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EXPANSION INTO CHINA
9 Months Ended
Jul. 31, 2016
EXPANSION INTO CHINA [Abstract]  
EXPANSION INTO CHINA
NOTE 14 – 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 over the next five years, with construction commencing in 2017 and production estimated to start in late 2018. The investment will be in the form of cash, transferred capital equipment and, possibly, local financing. Support for the project has been obtained from an existing customer.