Item 2.05. Costs Associated with Exit or Disposal Activities

On March 23, 2009, we commenced actions to close our wafer fabrication plant in Mountaintop, PA, and one of our wafer fabrication plants in Bucheon, South Korea. The closures are intended to streamline and consolidate wafer manufacturing and are consistent with our ongoing cost reduction strategy and the need to align manufacturing capacity with end demand. We expect to complete these actions by June 2010. We expect to incur approximately $18 to $23 million of cash charges, primarily for severance and other costs associated with transfer activities, beginning in the second quarter, and additional non-cash charges of approximately $25 to $30 million for impairments and accelerated depreciation over the course of the next six quarters. Approximately 200 jobs will be eliminated as a result of the closure of the Mountaintop plant.

We issued a press release on March 26, 2009, regarding the plant closures, which release is included in this report on Form 8-K and incorporated by reference.

Item 2.06. Material Impairments

The information set forth under Item 2.05 of this report on Form 8-K is hereby incorporated in this Item 2.06 by reference.