[lbo-talk] Chip firm makes India investment

uvj at vsnl.com uvj at vsnl.com
Mon Dec 18 07:37:57 PST 2006


BBC News http://news.bbc.co.uk/

Last Updated: Friday, 8 December 2006

Chip firm makes India investment

http://news.bbc.co.uk/2/hi/business/6161519.stm

[STM makes chips for set-top boxes, smart cards and mobile phones]

Chipmaker ST Microelectronics (STM) is doubling its Indian workforce to 3,000 and making the country a centre for research and development.

The company, which makes chips for set-top boxes, smart cards and mobile phones, also announced the launch of its first designed-in-India chip.

But, although STM is hiring 1,300 Indian staff in 2007, it has no plans to build a manufacturing plant there.

Its design centre in Uttar Pradesh is its largest outside Europe.

Franco-German STM is one of the world's largest chipmakers, with revenues of $8.9bn in 2005.

It employs about 50,000 people around the world.



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