International Finance Corp opens credit facility in Thailand for Fabrinet

Fabrinet has announced that the International Finance Corporation (IFC), the private sector arm of the World Bank Group, has agreed to open a credit facility in Thailand for Fabrinet. The amount of the transaction has not been disclosed. The funds will be used by Fabrinet to add engineering and manufacturing capacity to its existing Thailand facility, anticipated second facility later this calendar year, and to further support the company's manufacturing and process engineering service offerings in optomechanical and optoelectronic technologies."Tom Mitchell has been instrumental in enhancing economic opportunities in Thailand for over 20 years through pioneering efforts in high quality manufacturing operations, first at Seagate and for the last four years at Fabrinet," said IFC Thailand Country Manager, Michael Higgins. "IFC continues to invest in Thailand because of its highly skilled manufacturing capabilities, stable government, and cost efficient operations.""We are pleased that IFC has agreed to partner with Fabrinet in continuing its long-standing support of Thailand," said Fabrinet CEO and president Tom Mitchell. "Fabrinet shares IFC's mission to promote economic growth in Thailand to improve the quality of people's lives. We hope and expect to work closely with IFC as we expand our capabilities as well as our presence in Thailand."Source: PCBnewsline