Intel Invests $650 Million In U.S. Manufacturing Site
Subject: General Tech | October 25, 2005 - 03:40 PM | Jeremy Hellstrom
SANTA CLARA, Calif., Oct. 24, 2005 — Intel Corporation today announced plans to invest $650 million in the company's existing manufacturing site in New Mexico. The investment will be used to increase the capacity of the 300mm wafer fabrication facilities in Rio Rancho, N.M., called Fab 11X.
'Today's announcement signals another important addition to one of Intel's pre-eminent U.S. manufacturing sites, and better positions us to meet customer requirements,' said Intel President and CEO Paul Otellini. 'Additional 300mm wafer manufacturing capability helps improve the overall cost-effectiveness of our worldwide manufacturing network. Investing in an existing manufacturing site allows us to take advantage of our highly skilled workforce in New Mexico.'
Construction and new tool installations are scheduled to continue through 2006, with production operations set to begin through the new expansion in early 2007. This investment in New Mexico will result in the creation of more than 300 new manufacturing jobs.