BIP
Intel restructures the company. Suspends investments in Poland and Germany
Intel has decided to suspend its investments in Europe for two years. As a result, plans to build a chip factory in both Poland and Germany will be suspended. All this is part of the restructuring plan prepared by the company, which is related to its current financial problems.
According to Deputy Prime Minister Krzysztof Gawkowski, Intel is suspending its key investments in Europe for two years. This includes the construction of a factory in Poland. The company's global financial problems were cited as the reason. The deputy prime minister was informed by Intel CEO Pat Gelsinger.
We have been working over the past few months to prepare for strategic semiconductor investments. Last week we received the green light from the European Commission to apply for state aid for Intel. This experience allows us to efficiently implement similar projects and we will continue to work on them.
Krzysztof Gawkowski, Deputy Prime Minister, Minister of Digitization
Investments in Europe and Malaysia on hold
Pat Gelsinger also announced that the company is suspending its operations in Poland and Germany "based on anticipated market demand. Intel has also decided to abandon plans to build a factory in Malaysia. Currently, only projects in America remain unchanged.
Major investment near Wroclaw
Intel is the world's largest producer of microprocessors. Its plans include the largest foreign investment in Poland worth $4.6 billion, which is expected to create 2,000 jobs.
Poland and Wroclaw were chosen as the location for the new plant because of the excellent infrastructure, the very high potential in terms of availability of skilled workers, and the excellent business environment. The strong IT industry, numerous start-ups and renowned universities with 100,000 students were also important factors.