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Scottish uncertainty over Motorola spin-off
MOTOROLA’S chip plant in East Kilbride and development centre in Livingston learned yesterday of a dramatic twist to their future fortunes.
The American electronics giant said it will spin off its semiconductor division into a separate, publicly traded company.
The board of directors has rubber-stamped the decision - which originated with departing chief executive Chris Galvin.
Part of the semiconductors arm will be floated, with the remainder of the equity distributed to Motorola shareholders. The move could see the firm prime its offering to the market by trimming its global operations, but equally the move could lead to a welcome injection of cash investment that would secure the future of the Scots sites.
A Motorola spokeswoman said last night: "Going through each facility and seeing if they’re going to be affected is really something we couldn’t speculate on at the moment."
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Friday 25 May 2012
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