Intel even more inside Israel than you thought
Intel is even more inside Israel than you thought. Intel Corp's Israeli subsidiary said on Monday its exports surged 145 percent in 2009 to a record $3.4 billion and the company is hoping growth will continue with further expansion in the country.
Exports rose thanks to Intel's new $3.5 billion chip manufacturing plant in southern Israel which came into full production in early 2009.
It is the third plant in the world to make processors with 45 nanometer-wide circuitry and Intel is negotiating with the Israeli government for a possible grant to expand the plant to include production of smaller 22-nanometre chips.
"We are competing with other countries on the ability to bring to Israel 22-nanometre technology," Intel Israel General Manager Maxine Fassberg told a news conference, adding that the company plans to have two 22-nanometre plants.
The first one will be built in Arizona and Fassberg said she'd like the second plant to be in Israel.
The investment to expand the Israeli plant is estimated at $2.7 billion, she said.
"We have asked for a decision (from Israel) by mid-March when Intel is due to make a decision," Fassberg said. "Intel's second 22 nanometer plant needs to start producing by the start of 2012."
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Intel accounts for 10 percent of Israel's industrial exports and $7.3 billion has been invested in its operations in Israel, including $1.2 billion in grants from the government, Fassberg said.
Israel Matzav: Intel even more inside Israel than you thought
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