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Texas Instruments to invest US$1 billion in new Philippine plant

Texas Instruments to invest US$1 billion in new Philippine plant

U.S. semiconductor company Texas Instruments Inc. said Thursday it plans to invest about US$1 billion (euro736 million) over 10 years in a new test and assembly facility in the Philippines.
The new facility, Texas Instruments' second in the country, will be located on a 19-acre (7.7-hectare) site in Clark Freeport Zone, a former U.S. Air Force base northwest of Manila.
Construction will start in the second half of this year and initial production will begin later next year, officials said.
"This is an important site for TI because it will add capacity to support our growing business and serve our customers," said Kevin Ritchie, senior vice president of Texas Instruments' technology and manufacturing group.
Texas Instruments already operates a production complex in the northern city of Baguio. The facility, which has undergone at least four expansions since it was set up in 1979, accounts for 40 percent of the semiconductor company's global output.
The new investment will generate 3,000 jobs and boost Philippine electronics exports, which account for two-thirds of country's goods shipment, officials said.