Analog Devices, Inc. (Nasdaq: ADI), the world's leading semiconductor company, announced that it will invest 630 million euros in its European regional headquarters in Raheen Business Park, Limerick, Ireland. manufacturing facility.
The new facility will support ADI in developing next-generation signal processing innovations designed to accelerate digital transformation in industrial, automotive, medical and other industries. This move is expected to triple ADI's European wafer production capacity, helping the company achieve its goal of doubling its internal manufacturing capacity to enhance the resilience of the global supply chain and better meet customer demand. The investment is expected to create 600 new jobs for ADI in the Midwest of Ireland. Currently, ADI has 1500 employees in Ireland and 3100 employees throughout Europe.
One year before this investment project, ADI announced an investment of 100 million euros to build a 100,000-square-foot innovation cooperation base ADI Catalyst in Limerick, Ireland. Ireland is also the main location of ADI's European R&D Center, which has obtained more than 1,000 patents since its establishment, and has established ADI R&D institutions in European countries such as Spain, Italy, the United Kingdom, Romania and Germany.
Vincent Roche, Chairman and CEO of ADI, said: "Since 1976, Ireland has been a key innovation center for ADI, thanks to its strong academic and research organizations, business ecosystem, and active government leadership. Next Generation The semiconductor manufacturing facility and the expanded R&D team will further expand the global influence of the ADI Limerick base. Through independent research and development, and close cooperation with customers and ecological chain partners, we are working hard to solve some major challenges around the world and build A more efficient, safer and more sustainable future."
The investment is part of the European Union Priority Program for Common Interest in Microelectronics and Communication Technologies (IPCEI ME/CT) initiative collaboration and will support cross-border collaborative research. As Ireland's first application since the launch of the Priority Program of Common Interest in Europe (IPCEI), ADI's IPCEI application is supported by the Irish government through the Investment Development Authority of Ireland (IDA Ireland) and is currently subject to final approval by the European Commission.
Irish Prime Minister Leo Varadkar said: "This announcement is of great significance for Limerick and the Midwest region, and marks the beginning of a new chapter in ADI's long-term cooperation with Ireland. The huge investment of 630 million euros is a great opportunity for local jobs. The good news is that the construction phase will create a large number of jobs, with an additional 600 high-end graduate jobs. This will significantly expand ADI's research, innovation and development, leading to highly innovative new products. This investment is further evidence that Ireland The government is committed to creating jobs in the Midwest. In recent years, most of the new jobs added by IDA have been located outside Dublin. Limerick has a strong talent pool, universities, airports and infrastructure in this regard. Particularly well done. The investment will also lead to a large number of spin-off jobs and contracts for local SMEs and Irish businesses. ADI's investment is part of Ireland's commitment to develop the European Priority Project of Common Interest (IPCEI) and will broaden the We are on the verge of a digital future and building that future requires microchips. We are delighted that Ireland can play such an important role in the supply chain."
Simon Coveney, Irish Minister for Enterprise, Trade and Employment, said: "This announcement from ADI is welcome and underscores confidence in Limerick and the Mid West. An update on the jobs announcement. The scale of the investment and resulting high quality jobs is unprecedented and I will be visiting ADI in Boston during a trade visit this week. Looking forward to ADI's continued presence in Ireland in the future .”
Michael Lohan, CEO of IDA Ireland, said: "The technology that ADI will develop at the Limerick site is at the forefront of innovation and has the potential to revolutionize the lives of billions of people around the world. This investment by ADI aims to enhance the supply of advanced semiconductor processes Chain Resilience. We wish ADI continued success and look forward to our continued partnership. This is a transformative investment for Limerick, the Midwest and the Irish semiconductor industry. IDA Ireland is committed to supporting the European A massive investment with a positive impact on the semiconductor industry."
The Priority Projects of Common European Interest (IPCEI) are large European multi-country projects that benefit the EU economy, citizens, economic growth, sustainable development and value creation. IPCEI aims to enable member countries to support cutting-edge innovations that solve market or system challenges in specific industries. The first IPCEI on Microelectronics (IPCEI-me) started in 2018 and plans to complete the project by 2024. A second IPCEI on microelectronics, IPCEI-me 2, is in the final stages of ratification and aims to contribute to Europe's ambitious goal of semiconductor supply chain sovereignty. Ireland is one of 20 EU member states participating.
About Analog Devices
Analog Devices, Inc. (NASDAQ: ADI) is the world's leading semiconductor company dedicated to bridging the physical and digital worlds to enable breakthrough innovations at the intelligent edge. ADI provides solutions combining analog, digital and software technologies to promote the continuous development of digital factories, automobiles and digital medical care, address the challenges of climate change, and establish a reliable interconnection between people and everything in the world. ADI's fiscal year 2022 revenue exceeds US$12 billion, with approximately 25,000 employees worldwide. Together with 125,000 customers around the world, ADI helps innovators continue to exceed what is possible.