Fujitsu chip plant closes

Fujitsu closed its County Durham semiconductor plant today, as it continues to search for a buyer for the facility.

The closure of the plant means the loss of 570 jobs and follows job losses at Motorola's Glasgow plant and Siemens' North Tyneside facility.

These closures are part of a bleak year for the global chip market, which has seen prices plummet following overproduction brought on by the Asian currency crisis.

However, the market has showed signs of bouncing back, achieving record 4.2 per cent growth for September. Sales are predicted to grow by 9.1 per cent next year.