Infineon Technologies AG, Germany's largest and Europe's second-largest semiconductor producer, plans to increase investment in China, China Daily reported on Saturday.
The company has revealed plans to build a second factory in Wuxi of China's eastern Jiangsu Province, at a cost of nearly 300 million U.S. dollars to accelerate its smart-manufacturing capability in China.
The report quoted Reinhard Ploss, its chief executive officer, as saying that the facility could create around 2,500 jobs once production is at full tilt and the country's "Made in China 2025" strategy provides the firm with considerably more design and manufacturing opportunities.
Ploss said in the 2014 fiscal year, China accounted for 20 percent of Infineon's total revenue, which made it its most important sales market, even ahead of Germany.
The company, whose products are widely used in bank cards and passports in China, expects the facility to be completed by the end of 2016, and cover an area of 36,000 square meters.
Frankfurt Stock Exchange-listed Infineon launched its first factory in China, in Wuxi in 1995, and now employs more than 1,800 Chinese workers.
