LONDON – Germany's Infineon Technologies AG plans to invest about 250 million euro (about $350 million) in Singapore over the next few years, according to local reports.
In 2011 the company plans to spend 50 million euro (about $70 million) and add 130 staff to the 250 it currently employs at a design center there, according to a Straits Times report that referenced Infineon CEO Peter Bauer, as its source.
The engineers there work on security chips for consumer electronics such as mobile phones that can stop the equipment from working unless genuine parts such as specified batteries are used, the report said.
In total Infineon employs about 2,000 people in Singapore where it has a major test facility. Infineon is looking to make Singapore its hub for chip testing in Asia, the report said.