AMD gets 262 million euro grant from German government

Posted on Wednesday, Jul 18 2007 @ 19:19 CEST by Thomas De Maesschalck
The European Commission today approved a 262 million euro grant from the German government to AMD for an investment to increase the production capacity of its fab in Dresden.
'I am pleased to approve aid for an important investment project in a high-tech sector which will contribute to regional development and job creation in a disadvantaged region of Germany,' competition commissioner Neelie Kroes said in a statement.

The project is aimed at converting and extending the existing plant. The investment involves eligible costs of 2.2 bln eur, as well as the aid amount of 262 mln. The scheme will create some 565 additional jobs.
Source: Forbes.


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Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.



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