GlobalFoundries, a US-based multinational semiconductor contract manufacturing and design company, has announced plans to establish a new production facility in Dresden, Germany. The company plans to invest at least $1bn in the plant which will increase its global wafer production capacities from 300,000 in 2020 to 850,000 in 2022. GlobalFoundries and Qualcomm Technologies also recently announced that they are more than doubling their existing strategic global long-term semiconductor manufacturing agreement.

GlobalFoundries will open an additional wafer production facility in Crolles, Frances with STMicroelectronics. It will be located adjacent to STMicroelectronics adjacent 300mm facility and will allow the companies to better serve European and global clients.

GlobalFoundries was established in 2009 and is headquartered in Malta, New York. The company has additional operations in California, Vermont and Singapore.