Benzinga | Nov 17, 2021 10:55AM EST

Texas Instruments Lists Fab Construction Plans

* Texas Instruments Inc (NASDAQ:TXN) plans to begin construction next year on its new 300-millimeter semiconductor wafer fabrication plants (or fabs) in Sherman, Texas.

* The North Texas site has the potential for up to four fabs to meet demand. Construction of the first and second fabs will begin in 2022.

* Production from the first new fab will be likely by early as 2025.

* There is an option to include up to four fabs, and the total investment potential at the site could reach $30 billion and support 3,000 direct jobs over time.

* The new fabs will complement TI's existing 300-mm fabs, including DMOS6 (Dallas, Texas), RFAB1, and the soon-to-be-completed RFAB2 (both in Richardson, Texas), will likely start production in the second half of 2022.

* Additionally, LFAB (Lehi, Utah), which TI recently acquired, will begin production in early 2023.

* Price Action: TXN shares traded lower by 0.54% at $187.5 on the last check Wednesday.