Micron Tech plans $3 billion expansion of Virginia plant

NEW YORK: Chipmaker Micron Technology Inc said it plans to spend $3 billion over the next 12 years to expand a plant in Virginia about 40 miles (64 km) west of Washington, DC. Chief Executive Sanjay Mehrotra said in an interview the expansion aims to meet increasing demand for chips in automobiles, which are gaining more computer power for features such as collision avoidance systems or lane departure warning systems. The company expects that market to double to $6 billion by 2021. The money will be spent to build about 100,000 square feet of additional “clean room” space for making memory chips at Micron’s existing Manassas, Virginia factory, which employs about 1,500 people. Micron expects the expansion to create 1,100 permanent jobs for engineers and technicians once complete. The company has become a prominent point in trade relations between China and the United States. Micron in 2015 rejected a takeover bid made by a state-backed Chinese company as China was trying to build out its chip industry. — Reuters