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Stock Market & Financial Investment News

News Breaks
October 3, 2012
07:06 EDTSTSensata announces temporary suspension of manufacturing in JinCheon
Sensata announced that manufacturing operations of its Korean subsidiary located in JinCheon, South Korea have been temporarily suspended as a result of a recent fire in one of the buildings on the site. The company has confirmed that there were no on-site injuries as a result of the fire. The company expects to take a charge of approximately $3M-$5M in the third quarter of 2012 for loss of inventory, equipment and damage to the building. The company further expects some loss of revenue in the fourth quarter of 2012 due to the fire and related damage to operations in JinCheon. At this time, the company expects to have most of its manufacturing lines in JinCheon operational within a few weeks.
News For ST From The Last 14 Days
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