Monday, December 19, 2011

Slow recovery for flood-hit Thai plants

Terra Daily via AFP: Piles of rubbish, rusting furniture and discarded machinery litter one of Thailand's top high-tech parks, a former symbol of economic prowess laid to waste by weeks of flooding.

Many of the companies located in the country's industrial heartland say it will be several months at least before their operations return to normal. Investor confidence in the kingdom is likely to take even longer to recover.

At least one major manufacturer, Sanyo Semiconductor, is pulling the plug on its operations in hard-hit Ayutthaya province north of Bangkok altogether, while others are considering moving to safer areas.

"We've realised, obviously with hindsight, that we're in the wrong place -- we're in a flood zone," said Richard Han, chief executive of semiconductor maker Hana Microelectronics whose plant was badly affected....

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