Thursday, June 10, 2010

Samsung In $3.6 Billion Expansion In Austin, To Hire 500 More

Samsung Austin, which operates a semiconductor fab in Austin, said Wednesday that it is in a $3.6 billion expansion effort in the city, as it plans to expand the capacity of its fab. The firm said the expanded plant will produce advanced logic devices for its System LSI business, in addition to its current work producing NAND Flash memory chips. Samsung said the expansion will result in the hiring of an additional 500 employees. According to Samsung, so far it has invested a total of $5.6 billion in its Austin location, with the additional expansion bring that investment to more than $9 billion. The firm said it expects to grow from around a 1000 employees now to 1500 employees by 2011, with a payroll of $105 million.