Intel to announce location of its new factories in Europe later today

Intel is scheduled to announce its investment plans for semiconductor research and manufacturing in Europe, suggesting that it has finalized locations of its new factories in Europe.

In September 2021, Intel had unveiled plans to invest $95 billion in Europe over the next decade, with its CEO Patrick Gelsinger saying the company would announce the locations of the manufacturing sites in the coming months.

Earlier this year in February, the European Commission had proposed legislation to help in establishing factories for advanced semiconductors by subsidising local development, benefiting chipmakers such as Intel.

Currently Intel produces chips at its plant in Ireland. Its new factories will produce more advanced chips. While its main factory will be in Germany, Intel is likely to open allied units in France and Italy, said two sources familiar with the matter at hand.

($1 = 0.9121 euros)

Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Strategy

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