February 7 (SeeNews) - Belgium's electronic components manufacturer Melexis said on Wednesday it plans to invest 75 million euro ($92.7 million) over the next five years in expanding its operations in Bulgarian capital Sofia.
Melexis plans to double the manufacturing space as well as significantly extend the R&D and warehousing facilities, adding a further 15,000 sq m to its 7,500 sq m facility in Bulgaria.
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As part of its plan to increase its European footprint, the company will invest 17 million euro in 2018. The company's workforce is expected to grow from 425 to around 575 by the end of 2018, with a further 160 people expected to be hired by Melexis by the end of 2022.
In parallel, Melexis is also investing in a brand new wafer-probing site in France.
"We are excited to be expanding in two other European locations to help us meet our global growth plans in terms of R&D, logistics and manufacturing capacity for the medium-term future. Not only will these investments bring additional resource and capacity, but also they will ensure that we have a tightly coupled and consistent supply chain to serve our customers [...]," Veerle Lozie, vice president of operations for Melexis, said in the statement.
Melexis Bulgaria produces microchips for the automotive industry.
Melexis is a global supplier of micro-electronic semiconductor solutions. The company hires more than 1,400 in 14 countries, worldwide.
($=0.8085 euro)