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tkg

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tkg

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Friday, 06/16/2023 9:16:29 AM

Friday, June 16, 2023 9:16:29 AM

Post# of 196794
Intel said it plans to invest up to $4.6 billion to build a semiconductor assembly and test facility in Poland , with the plant helping "meet demand for assembly and test capacity anticipated in coming years."
In a press release, the chip maker said the plant would create about 2,000 Intel jobs. The plant is expected to be operational by 2027.
Intel (ticker: INTC) was rising 0.9% in premarket trading. The stock has gained 35% this year.
The company operates a wafer fabrication plant in Ireland , and announced plans last year for another in Germany . The plant in Poland "will help create a first-of-its-kind end-to-end leading-edge semiconductor manufacturing value chain in Europe ," Intel said.
" Poland is already home to Intel operations and is well-positioned to work with Intel sites in Germany and Ireland ," said Intel CEO Pat Gelsinger . "It is also very cost-competitive with other manufacturing locations globally and offers a great talent base that we are excited to help to grow."
Bloomberg reported that Intel was set to receive almost $11 billion in subsidies from the German government for its chip-making plant in the country. An official announcement could come Monday, Bloomberg reported, citing people familiar with the matter.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal .
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06-16-23 0550ET
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