Intel to Invest up to $2 Billion for Future Manufacturing Capabilities
SANTA CLARA, Calif., May 19, 2004 (BUSINESS WIRE) -- Under an agreement with the Irish Development Authority (IDA), Intel Corporation today disclosed plans for an additional $2 billion investment in its facilities in Ireland. The company plans to make this investment to enable 65 nanometer (nm) process technology and build Fab 24-2 on the Ireland campus.
The investment will add an additional 60,000 square feet of manufacturing cleanroom space plus the necessary manufacturing equipment to enable the latest 65nm technology within both Fab 24-2 and existing Fab 24 facilities. Production for the new module is expected to begin the first half of 2006.
"We are about to begin production in Fab 24, our newest 300mm manufacturing facility," said Bob Baker, senior vice president, Technology Manufacturing Group. "This additional investment in the factory will help ensure that we have leading-edge manufacturing capacity to meet customer needs in 2006. The performance of our workforce in Ireland and our relationship with the government helped make this investment decision possible."
Under terms of an agreement with the IDA, Intel will receive grants and other potential incentives as it continues to invest in Ireland. Intel's 2004 capital expenditure forecast range of $3.6 billion to $4 billion will accommodate the spending for the early stages of this project.
Since 1989 Intel has invested approximately $6 billion in its Ireland operations. Approximately 4,700 Intel employees and contractors work at the Ireland site, mostly in Leixlip. This campus includes Irish Fab Operations (Fab10 and Fab14) along with the newly built Fab 24. The company also operates a circuit design center focused on communications products in Shannon.
Intel, the world's largest chip maker, is also a leading manufacturer of computer, networking and communications products. Additional information is available at www.intel.com/pressroom.
I think their bank account status allows a bit more then $2 billion ;)
It seems big money to us (or maybe not) but it normal for those companies.
(You all prolly figuered this out, but I'm a bit loaded I think...)
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