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© MIcron Business | August 30, 2018

Micron to invest $3 billion in expansion of Virginia plant

Micron Technology says that it plans to invest USD 3 billion by 2030 to increase memory production at its plant in Manassas, Virginia, creating 1'100 new jobs roughly over the next decade.
"Micron's Manassas site manufactures our long-lifecycle products that are built using our mature process technologies, and primarily sold into the automotive, networking and industrial markets," says Micron President and CEO Sanjay Mehrotra, in a press release. "These products support a diverse set of applications such as industrial automation, drones, the IoT (Internet of Things) and in-vehicle experience applications for automotive. This business delivers strong profitability and stable, growing free cash flow."

The initial clean room expansion is expected to be completed in the fall of 2019 with production ramp in the first half of 2020. This expansion will add less than 5% to Micron's global clean room space footprint and will primarily support enablement of DRAM and NAND technology transitions as well as modest capacity increase at the site, in-line with growing customer demand for Micron's long-lifecycle products.

As part of this expansion, the company will also establish a global research development center in Manassas for the development of memory and storage solutions focused mainly on the automotive, industrial and networking markets. The research and development center will include laboratories, test equipment and a staff of approximately 100 engineers, the press release continues.

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September 21 2018 11:51 am V11.0.0-2