Intel is abandoning its billion-euro plans for a manufacturing unit in Magdeburg in jap Germany, the struggling US chipmaker introduced on Thursday.
Deliberate tasks in Germany and Poland are to be discontinued with the intention to optimize manufacturing capacities, Intel stated in an announcement.
“Intel is taking motion to optimize its manufacturing footprint and drive larger returns on invested capital. As a part of this effort, Intel will now not transfer ahead with deliberate tasks in Germany and Poland,” the assertion learn.
No additional particulars have been initially given.
Intel had introduced the development of initially two chip factories within the state of Saxony-Anhalt. The bottom-breaking ceremony was initially deliberate for 2024.
Round 3,000 jobs have been to be created. The funding was estimated at round €30 billion ($35.2 billion). The German authorities had promised state help totalling €9.9 billion for the relocation.
