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Business

Infineon to Expand Virginia Chip Factory

Germany's Infineon Technologies AG, Europe's second-largest semiconductor maker, plans to invest $1 billion (€840 million) to expand a U.S. factory with technology that will boost production of memory chips used in personal computers and servers, according to Bloomberg News. The Richmond, Virginia-based plant will be able to process 25,000 wafers a month once the first expansion phase is completed early next year. The Munich-based company said it will add 800 employees to the plant, boosting the workforce to 2,550. The shift to the factory in Richmond will allow Infineon to use capacity at its plant in Dresden for logic instead of memory products as the company aims to expand its product range, Bloomberg reported.