XML 45 R29.htm IDEA: XBRL DOCUMENT v3.6.0.2
EXPANSION INTO CHINA
12 Months Ended
Oct. 30, 2016
EXPANSION INTO CHINA [Abstract]  
EXPANSION INTO CHINA
NOTE 21 – EXPANSION INTO CHINA

In August 2016 the Company announced that it had signed an investment agreement with the Xiamen Torch Hi-Tech Industrial Development Zone (Xiamen Torch) to establish an IC manufacturing facility in Xiamen, China. Under the terms of the agreement the Company will build and operate a state-of-the-art IC manufacturing and research and development facility, in return for which Xiamen Torch will provide certain investment incentives and support.

The Company plans to invest $160 million in cash and equipment over the next five years, with construction commencing in 2017 and production estimated to start in late 2018. The investment will be financed with a mix of cash, transferred capital equipment and, possibly, local financing. Support for the project has been obtained from an existing customer.