Filtronic Regulatory News (FTC)

25 Jun 2007 15:00

Filtronic PLC25 June 2007 Filtronic plc Compound Semiconductor update Filtronic is providing the following statement for its Compound Semiconductorbusiness. As reported in January 2007, the switch production capacity of the CompoundSemiconductor business was aligned with the projected requirements of ourconcentrated customer base. Our predominant customer has now advised us thatits requirement for switches from Filtronic will cease in September because oftheir decision to in-source all production. This will result in a substantialreduction in the level of activity for our business. The board has therefore decided to reduce the size of the Compound Semiconductorbusiness accordingly. Consultations will start with affected staff over proposedjob losses involving approximately 115 people. The board is considering a full range of possibilities for the ongoingoperation, including sale. The board reaffirms its objective of running theCompound Semiconductor business on at least a cash neutral basis. Contacts: Filtronic plc John Poulter, Chairman 01274 415 325Charles Hindson, Chief Executive 07800 706 319 (mobile) Filtronic website: www.filtronic.com Parkgreen Communications Ltd 020 7479 7933Paul McManus 07980 541 893 (mobile) ENDS This information is provided by RNS The company news service from the London Stock Exchange