Billions in Business for US Chipmaker in Dresden
American semiconductor manufacturer GlobalFoundries has announced a massive new investment in its production facility in the eastern German city of Dresden. The project will be worth at least USD one billion.
It comes as GlobalFoundries increases the number of wafers produced from 300,000 in 2020 to as many as 850,000 this year, Managing Director of the GlobalFoundries Dresden location Manfred Horstmann said in response to a query from news agency dpa. Demand from the automotive industry is driving the increase in production Hortsmann added.
On August 8, GlobalFoundries and Qualcomm Technologies announced that they are more than doubling their existing strategic global long-term semiconductor manufacturing agreement.
The expansion comes after another US chipmaker, Vishay, decided to expand its German operations.