Analog Devices Announces Investment of 630 Million in Next Generation Semiconductor R&D and Manufacturing Facility in Limerick
Analog Devices, Inc.
(Nasdaq: ADI), a global semiconductor leader, today announced a new 630 million investment at its European regional headquarters in the Raheen Business Park in Limerick, Ireland. The investment enables the construction of a new, state-of-the-art, 45,000 sq-ft Research & Development and manufacturing facility.
The new facility will support ADIs development of next-generation signal processing innovations designed to accelerate the digital transformation of Industrial, Automotive, Healthcare, and other sectors. It is expected to triple ADIs European wafer production capacity and aligns with the companys goal of doubling its internal manufacturing capacity to enhance the resiliency of its global supply chain and better serve customer needs. This investment is expected to grow ADIs employment footprint in the mid-west region of Ireland by 600 new positions, a significant increase to ADIs current 1,500 employees in Ireland and 3,100 employees in Europe as a whole.
Todays announcement comes a year after ADI announced a separate investment of 100 million in ADI Catalyst, its 100,000 sq-ft custom-built facility for innovation and collaboration at its Limerick campus. Ireland is also home to ADIs main European Research and Development Center, which has generated more than 1,000 patents since its inception and has seeded ADI R&D sites throughout Europe in Spain, Italy, UK, Romania, and Germany.
Since 1976, Ireland has been a critical innovation center for ADI, thanks to its strong academic and research organizations, business ecosystem, and progressive government leadership, said ADI CEO and Chair Vincent Roche. This next-generation semiconductor manufacturing facility and expanded R&D team will further extend ADI Limericks global influence. Through organic R&D and close collaboration with our customers and ecosystem partners, we are striving to solve some of the worlds greatest challenges and enable a more efficient, safer, and sustainable future.
The new investment is planned as part of a collaboration within the European Unions Important Projects of Common European Interest on Microelectronics and Communication Technologies (IPCEI ME/CT) initiative, and will support cross-border collaborative research. ADIs IPCEI application Irelands first since the inception of the Important Projects of Common European Interest (IPCEI) initiative is subject to final approval from the European Commission, and is supported by the Irish Government through IDA Ireland.
An Taoiseach Leo Varadkar TD said: This is a really significant announcement for Limerick and the Mid-West region, which marks a new chapter in the longstanding relationship between ADI and Ireland. This massive 630 million investment is great news for local employment with lots of jobs being created during the construction phase, and 600 high-end graduate jobs. It means a significant expansion in the size and scale of ADIs research, innovation, and development, leading to new, highly innovative products. This investment is further evidence of the Governments commitment to bringing jobs to the Mid-West. Most IDA jobs created in recent years have been outside of Dublin, and Limerick has done particularly well with its deep talent pool, universities, airport, and infrastructure. This investment will also mean lots of spin-off jobs and contracts for local SMEs and Irish-owned businesses. ADIs investment is part of Irelands commitment to develop Important Projects of Common European Interest, IPCEIs, and will contribute to Europes broader microelectronics sector. The future is digital. There can be no such future without microchips and its great that Ireland is such an important player in the supply chain.
Minister for Enterprise Trade & Employment Simon Coveney said: This is a much welcome announcement from Analog Devices and a great vote of confidence in Limerick and the Mid-West. Its also noteworthy that its the latest in a series of major job announcements outside of Dublin. Im struck not only by the scale of the investment, but also the high quality positions that will result. Ill be visiting Analog Devices in Boston during a trade mission this week where well be looking forward to many more years of doing business in Ireland.
IDA Ireland CEO Michael Lohan said: The technology that ADI will develop at this facility in Limerick is at the very forefront of innovation and has the potential to revolutionise the lives of billions of people across the world. This investment by ADI is intended to strengthen our supply chain resilience for advanced semiconductor processes. We wish continued success to ADI and look forward to our continued partnership. This is a transformational investment for the Limerick site, for the Mid-West region, and for the semiconductor industry in Ireland. IDA Ireland is committed to supporting investments of scale that impact positively on Europes semiconductor industry.
About Analog Devices
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With reported revenues of more than $12 billion in FY22 and approximately 25,000 people globally working alongside 125,000 global customers, ADI ensures todays innovators stay Ahead of Whats Possible. Learn more at www.analog.com and on LinkedIn and Twitter.
About IPCEI
Important Project of Common European Interest (IPCEI) are large-scale, multi-country European projects that are of significant benefit to the EU economy, its citizens, economic growth, sustainability, and value creation. IPCEI are aimed at allowing Member States to support state-of-the-art innovation to address market or systemic failures in particular sectors. The first IPCEI on Microelectronics (IPCEI-me) began in 2018 and aims to complete its projects by 2024. The second IPCEI on Microelectronics; IPCEI-me 2, is in its final stages of approval and is aimed at supporting Europes ambition to achieve semiconductor supply chain sovereignty. Ireland is one of 20 EU Member States participating.
All trademarks and registered trademarks are the property of their respective owners.
Forward Looking Statements
This press release contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Words such as anticipates, expects, intends, goals, plans,
Monday, May 15, 2023 at 5:58 am