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Jan 29th, 2011
ST to maintain capex above $1 billion in 2011
Europe's leading chipmaker STMicroelectronics NV plans to invest between $1.1 billion and $1.5 billion on capital expenditure in 2011, between a 6 and 45 percent increase year-on-year.
The investment money is required to support revenue growth faster than the served market dynamic, ST said as it announced its financial results for the fourth quarter and year ended Dec. 31, 2010. In particular ST is planning to invest for the manufacture of MEMS, automotive ICs and the U8500 smartphone platform of its subsidiary ST-Ericsson. ST said the final amount would be modulated by ST's revenue growth in 2011.
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