Infineon Expands in the USA and Establishes New Presence in New York City
Infineons East Coast presence is expanding significantly. The opening of the New York office comes only four month after a new presence in Cary, the Research Triangle area of North Carolina, has been announced. The Cary office is designed for a 400 person capacity and is expected to open this fall. This business operations and administrative office provides Infineon with a major expansion site to strengthen the companys presence in the Eastern United States.
Infineon has recently also opened a new operations center and R&D facility, in the Research Triangle area of North Carolina, which specializes in the development of memory products. In New York the company is strengthening its cooperation with Albany Nanotech, and expanding its existing partnership with IBM at its Advanced Semiconductor Technology Center. In addition, Infineon is a partner with IBM, AMD, and Micron Technologies in advanced lithography programs at Albany Nanotech to jointly develop the most advanced lithography technology for future chip generations.
The opening of our New York office is a clear sign of our growing commitment to the US market. Over the next two years we plan to strengthen our market position, particularly with the expansion of our logic business in automotive electronics and communications as well as memory products, capturing an overall market share of five percent by 2005, said Dr. Ulrich Schumacher, President and CEO of Infineon.
Infineon now generates 22 percent of its global revenue in North America. As one of the fastest growing semiconductor companies in the US top 10, our strategy is already starting to pay off, said Robert LeFort, President of Infineon Technologies North America. We have shown a strong growth record in our key markets and are best positioned for continued growth based on a solid product portfolio and our track record for innovation.
Infineons sales in the US increased from approximately US $880 million in the first nine months of fiscal year 2002 to more than US $1 billion during the same period of fiscal year 2003. Infineons commitment to North America is backed by an expanding presence in the United States - employing nearly 2,800 people. The company has seven development centers and operational offices in San Jose, California, Williston, Vermont, Cary the Research Triangle Area of North Carolina, the Hudson River Valley Corridor of New York, Longmont, Colorado, Morgan Hill, California and Princeton, New Jersey. Approximately 1,800 employees work at the companys state of the art manufacturing site in Richmond, Virginia, where Infineon has invested more than US $1.7 billion.
Infineon Technologies AG, Munich, Germany, offers semiconductor and system solutions for the automotive and industrial sectors, for applications in the wired communications markets, secure mobile solutions as well as memory products. With a global presence, Infineon operates in the US from San Jose, CA, in the Asia-Pacific region from Singapore and in Japan from Tokyo. In the fiscal year 2002 (ending September), the company achieved sales of Euro 5.21 billion with about 30,400 employees worldwide. Infineon is listed on the DAX index of the Frankfurt Stock Exchange and on the New York Stock Exchange (ticker symbol: IFX). Further information is available at www.infineon.com.