Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Engel who wrote (155489)	1/15/2002 4:02:59 PM
From: TomZ	Read Replies (1) \| Respond to of 186894

Paul, Looks like some of Intel's 2002 capital spending will be in Ireland. Intel set to chip in with $1.5bn boost for hi-tech jobs IRELAND'S crucial hi-tech sector - boosted by 250 new jobs yesterday - can look forward to more good news shortly. In the next two months computer giant Intel is expected to announce it is going ahead with a $1.5bn expansion at its Leixlip plant. That will represent a substantial boost to a sector which has been hit hard by the global economic downturn. More immediate and concrete evidence of confidence in the industry cames yesterday when US software giant Oracle announced 250 jobs at a new location in North Dublin. In March, Intel is expected to announce it will restart construction of the new plant, set to employ an extra 1,000, well placed sources have indicated. Intel is one of the State's largest hi-tech employers, with a staff of 3,150. It had mothballed expansion last March when it closed down construction of its big Fab 24 plant in Co Kildare. That decision sent a shiver through the technology sector. Last year was one of the gloomiest on record for the Irish technology sector with around 11,000 jobs lost between foreign-owned and indigenous IT companies. But California-based Intel has recently seen demand for its latest Pentium 4 chip outstrip supply. The new factory is set to make an even faster chip. The hope now is that the sector has turned the corner and can begin to expand again. The IT sector is hugely important to the economy, employing around 140,000 people. Yesterday, Taoiseach Bertie Ahern said the decision by Oracle to expand was a positive sign after months of gloom in the all-important sector. Mr Ahern also officially opened Oracle's Global Development and IT Services Centre Building at East Point Business Park, Dublin, the company's fourth building in the park. "Given the difficulties of the last months faced by the IT sector, I can hardly think of a more positive new year message about the soundness of our economy," Mr Ahern said. He said that, like Oracle, the Government had no intention of becoming complacent and recognised the need to invest heavily in the future. €2.5bn has been allocated to research and innovation, particularly in niche areas such as biotechnology. Charlie Weston and Grainne Cunningham unison.ie