Fabrinet Provides Update on Thailand Flooding Impacts; Suspends Production Temporarily
Fabrinet (NYSE: FN) today gave an update about the impact of recent flooding in Thailand on the company's business.
Fabrinet today announced that production at its two Thailand manufacturing facilities, both located in Pathum Thani, Thailand, is currently suspended due to the logistics and infrastructure disruption resulting from severe flooding near the company's production facilities. While the flood waters have not to date breached the company's production facilities in Thailand, the flooding has materially impacted local transportation and utilities and has affected both arterial and access roads connected to Fabrinet's factories and some employee residences. Therefore, the company has decided to suspend production temporarily.
Conditions with the continued flooding are evolving quickly, and the extent of the impact cannot yet be determined.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.