Wolfspeed Confirms Commitment to Marcy Plant As It Reorganizes

The Vice President of External Affairs for Wolfspeed, Tyler Gronbach made it clear during a radio interview this week, that the company is committed to the Marcy facility and Mohawk Valley Fab.

Gronbach said the bankruptcy reorganization was to make it possible for the tech company to competitively move forward, and to be ready when silicon carbide trends in the right direction.

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"As you know that the semiconductor market remains a challenge for geopolitical reasons and national security reason so in the last year and a half, we've put the company into a restructuring which is gonna strengthen the company's balance sheet and reduce all debt for the business because we still believe long term, there’s a good future for silicon carbide and a very positive future in in the Mohawk Valley region for Wolfspeed," said Gronbach.

Gronbach stressed that they're not relying on just one or two big contracts, but instead they're diversifying to be able to grow with stability. He also said they strongly believe the silicon carbide industry demand is going to bounce back and when it does, they want to make sure they're ready.

Recently, Wolfspeed shuttered a facility in North Carolina and moved its operations to the Marcy facility. He said they're extremely impressed with the state of the art facility, support from state and local officials, a strong and capable workforce and the education piece of the puzzle that continues to prepare young graduates for jobs that are and will be in demand in silicon carbide.

Local Debt and Workforce

A listener questioned Gronbach about bills that are possibly owed and one one in particular, a rumored large debt owed to The Mohawk Valley Water Authority. Gronbach said that all debts were being paid and officials from Mohawk Valley Edge later confirmed that all debts to the Mohawk Valley Water Authority have been paid by Wolfspeed.

Listen to the interview with Tyler Gronbach below via Keeler's YouTube Channel - Keeler Live Stream:

Listen to the interview with Shawna Papale, Executive Director of Mohawk Valley Edge on Keeler's YouTube page, Keeler Live Stream: