Samsung Electronics Co., Ltd. : Samsung Electronics : Plans to Spend $4 Billion on Texas Plant to Ramp up Logic-Chip Production
08/21/2012| 03:22am US/Eastern
By Jung-Ah Lee
SEOUL--Samsung Electronics Co. (005930.SE) said Tuesday it plans to invest about $4 billion in its chipmaking factory in Austin to ramp up logic chip production to meet rapidly growing demand.
The funds will be used to upgrade its production line, which will mainly manufacture processors for advanced mobile applications with mass production slated to begin in the second half of next year, the electronics giant said in a statement.
The largest ever single foreign investment in the state of Texas brings Samsung's cumulative investments in Samsung Austin Semiconductor to over $13 billion since it became operational in 1996, the company said.
Samsung Electronics is the world's largest memory chip supplier by revenue.
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