IBM, Government of Canada, Quebec Agree to Joint C$187M Semiconductor Investment

Dow Jones04-26

By Adriano Marchese

International Business Machines is partnering with the Canadian federal and Quebec provincial governments for a joint 187 million Canadian dollar ($136.9 million) investment to build up its chip packaging operations in Quebec.

The blue-chip technology company has made the agreement with the Government of Canada and the Government of Quebec with the aims of strengthening the country's semiconductor industry.

The agreement also looks to further develop the assembly, testing and packaging capabilities for semiconductor modules.

The combined investments will be made in IBM Canada's plant in Bromont, Quebec, which has been operating in the region for over 50 years.

There is also a research-and-development component to the agreement. IMB will conduct R&D to develop methods for scalable manufacturing and other advanced assembly processes to support the packaging of different chip technologies, they said on Friday.

The agreements are expected to establish a corridor of semiconductor innovation from New York to Bromont.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

April 26, 2024 10:40 ET (14:40 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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