Atlas Copco to Invest $319 Million in New US Manufacturing Facility

By Dominic Chopping

STOCKHOLM--Swedish industrial tool maker Atlas Copco AB said Wednesday that its Edwards subsidiary will spend an estimated $319 million over the next seven years to build a new manufacturing facility for dry vacuum pumps used in the manufacture of semiconductors.

The new factory will be situated in western New York, U.S. and is expected to create around 600 jobs, it said.

Phase one of the project will cost $127 million to construct the manufacturing facility, with full operation expected in late 2024.

"The recent increase in demand for semiconductors has seen governments around the globe recognize the strategic importance of the industry, with large investments being committed to ensure a stable and resilient semiconductor infrastructure," Atlas Copco said.

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(END) Dow Jones Newswires

11-02-22 0934ET