Pace troubled by Thailand floods

Flooding in Thailand could negatively impact set-top vendor Pace’s operating profit by up to US$9 million (€6.5 million) this year, the company has announced.

Western Digital Corporation, a major supplier of hard disk drives to Pace, has suspending production at its manufacturing facilities in Thailand due to the severe flooding taking place in the country. Pace said the US$9.5 million was a “worst case” scenario but added that operating profit for 2011 is likely to fall below previous guidance of US$150 million – US$170 million.