Intel Israel Ltd. is to recruit 1,000 new employees in 2011 to develop and produce 22 nanometer technology.
Intel Israel currently has 7,057 employees and general manager Maxine Fassberg said that the company indirectly employs an additional 20,000 people.
Intel Israel exported $2.7 billion in 2010, down from $3.4 billion in 2009 but up from $1.39 billion in 2008, and $1.54 billion in 2007. Intel Corporation (Nasdaq: INTC) had revenue of $43.6 billion in 2010.
In 2010, Intel implemented $264 million in reciprocal procurements in Israel, and also purchased production machinery worth $52 million.
Fassberg said, "We are going to invest $2.7 billion in the next two years in 22 nanometer technology. We will undertake it in our clean room with additional workforce but without building another factory. There will be an exchange of machinery that will lower the pace of production while we are bringing in the machinery with new technology at the same time."
Published by Globes, Israel business news - www.globes-online.com - on January 18, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011