December 6, 2004 – European semiconductor maker STMicroelectronics (ST) plans to invest an additional US$1.2 billion over the next two years in Singapore, company officials said Friday, according to the Agence France-Presse.
Most of the new investment is aimed at expanding the manufacturing capacity of its Asia-Pacific headquarters, which now accounts for more than 40% of the French-Italian firm’s global sales. The money will be in addition to US$2.9 billion the company has already put into the city-state, where it employs some 7400 workers, mostly at its ST TechnoPark complex.
At full capacity, ST’s four plants in the TechnoPark are capable of producing up to 120,000 wafers/week. The chips produced by ST, which has operated here since 1969, are used in industrial and everyday applications like computer peripherals as well as telecommunications, consumer, and automotive products.