AMS Withdraws from NY Wafer Facility

Sensor manufacturer AMS AG has withdrawn from a proposed wafer fabrication facility project with the state of New York amid delays.

”We received a warm welcome from day one from the State of New York, the Utica community, Oneida County and Mohawk Valley EDGE,” said Alexander Everke, CEO of AMS. “The relationship with Mohawk Valley EDGE and Empire State Development was a very positive experience, and we remain open to future opportunities for cooperation. However, this decision was taken after thorough evaluation of the wafer fabrication project and its current status.”

AMS develops sensors, sensor interfaces and power wireless integrated circuits for consumer, communications, industrial, medical and automotive markets.

”We see no impact to our financial targets including our stated profitability expectations, as we have a strong mix of internal and ample external capacity available to implement our strategy,” Everke said.