Intel rumored to have delayed Israel fab construction

Posted on Thursday, June 20 2019 @ 10:53 CEST by Thomas De Maesschalck

Word is going around that Intel may have delayed the building of its $11 billion factory in Kiryat Gat, Israel by one year. Israeli newspaper Haaretz claims the decision was made by CEO Bob Swan in effort to cut short-term costs. Oregon Live adds that the similar expansion in Oregon remains on schedule:

The Israeli news site Calcalist reported Wednesday that Intel has postponed plans for its new factory in southern Israel. Haaretz reported Thursday that Intel will delay the project for up to a year, a decision the news outlet attributed to a mandate from new CEO Bob Swan to cut short-term costs.

About the Author

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.

Loading Comments

Share this story!