STMicroelectronics will build a new factory in Italy

Technology and semiconductor company STMicroelectronics said it plans to build a factory in Italy that will create about 700 new jobs. Earlier, the European Commission said earlier that it had approved 292.5 million euros (about 2.056 billion yuan) for the project.

Financial data shows that in the first half of 2022, ST’s net revenue was US$7.38 billion (about 52.25 billion yuan), a year-on-year increase of 22.9%. All product divisions and sub-product divisions achieved sales growth; the operating profit margin was 25.5%, and the net profit was 16.1 %. billion US dollars (about 11.399 billion yuan).

Jean-Marc Chery, president, and CEO of STMicroelectronics said in July this year that it will continue to achieve full-year revenue of $15.9 billion (approximately 112.572 billion yuan) to $16.2 billion (approximately RMB 16.2 billion) in 2022. 114.696 billion yuan) and gross profit margin of approximately 47.0%.

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