Lincoln site in jeopardy

Lincoln site in jeopardy
David Manners Staff at Mitel Semiconductor’s Lincoln site, the former Marconi Electronic Devices fab owned by GEC-Plessey Semiconductors (GPS), have been told that their operation may be sold off after a review has been completed. No time limit has been set for completion of the review but it may take some time, according to a Mitel spokesman. Although GPS was advertising for engineers before it was taken over by Mitel in February, in March Mitel announced 165 lay-offs: 90 at Swindon, 40 at Plymouth and 25 at Oldham. Mitel’s general manager, Francois Cordeau, has said that the lay-offs were necessary in view of Mitel’s ‘long-term goals’. Cordeau intends to announce what these are later this month. So far, he has stated that the intention is to grow it into a $1bn operation. Mitel bought GPS for $225m – less than a year’s revenues and the book value of GPS’ assets.


Leave a Reply

Your email address will not be published. Required fields are marked *

*