Tower Semiconductor Ltd. to implement inventory management system
Tower Semiconductor Ltd., (Nasdaq: TSEM), an independent wafer foundry focused on manufacturing semiconductors, said this morning that it would implement a system to more efficiently manage its inventory of spare parts for its manufacturing tools.
Tower said that implementing the system should save the company $15 million over three years and that no layoffs would result from the move.
Shares of Tower were halted ahead of the opening bell.
