SAN JOSE -- Flextronics is denying reports it is seeking a buyer for its plant in northwest Shanghai, according to published reports.

Last week, rumors spread that the company, the world's second largest EMS firm, would close up to 12 factories worldwide. In response, Flextronics senior chief director for marketing and communications business in Asia Valeria Kurniawan debunked the rumors, saying that although some cost-cutting measures would be taken, the plants were not on the market.

Flextronics has two large assembly plants in the Shanghai area, one in Malu, in northwest Shanghai, and one in Pudong, across the river from downtown Shanghai.