NXP invests in Thailand

NXP plans to invest around US$300 million in production expansion, reports the Bangkok Post. After feeling the slump in demand, NXP starts investing and recruiting in Thailand again - as orders have picked up. "We are investing in Thailand for two things, the first is production expansion by adding new equipment. At the same time, NXP is relocating high-tech activities from Europe and some products from the Philippines to Thailand," Theo Halders, vice-president and general manager of NXP Semiconductors and managing director of its Thai unit told the newspaper. NXP currently operates 6 facilties in Europe, the Philippines, Hong Kong, China and Thailand, but announced a major overhaul at the end of 2008. The company has already closed down its US wafer facility and a European facility is to follow soon.