By Olivia Bugault

AT&S Austria Technologie und Systemtechnik AG (ATS.VI) said Friday that it plans to invest almost one billion euros ($1.13 billion) to expand and build new plants over the next five years.

The Austrian semiconductor maker said it will use this investment to build a new plant in Chongqing, China, and expand the existing capacity at its Leoben plant in Austria. The construction of the facility in Chongqing starts immediately and production should begins at the end of 2021.

The increased capacity will help meet rising demand for high-performance computing, the company said.

Write to Olivia Bugault at olivia.bugault@dowjones.com

(END) Dow Jones Newswires

July 12, 2019 01:49 ET (05:49 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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