Micron said Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the city of Xian.
Micron, the biggest US memory chipmaker, was last month targeted by China’s cyberspace regulator, which said the firm had failed a network security review.
“This investment project demonstrates Micron’s unwavering commitment to its China business and team,” it quoted CEO Sanjay Mehrotra as saying.
Micron, China’s commerce ministry and the Cyberspace Administration of China did not immediately respond to requests for comment.
In May, Micron forecast a hit to revenue in the low-single to high-single digit percentages after the China ban.
Persons:
Sanjay Mehrotra, Powertech
Organizations:
Micron, Technology Inc, Cyberspace Administration, China
Locations:
China, Xian