PRE-tax profits at the R&D arm of chip giant Intel last year increased by 18% to $4.2 million (€3.1m).
Last year, Intel Shannon Ltd announced a €50m investment at its research plant, involving the creation of 134 & research and development jobs developing “the most advanced silicon technology on the planet.”
The investment in the development of Intel’s nanotechnology capability will bring employment numbers to 300 before the end of 2012 at the company’s Irish Design Centre in the Shannon Free Zone.
The company increased its workforce from 188 to 207 during the year with the numbers engaged in R&D increasing from 150 to 154. As a result, staff costs increased by 8% from $19m to $20.5m.
Accounts recently filed by Intel Shannon Ltd to the Companies Office, show that the company’s turnover increased 33.7% from $38.1m to $51m in the 12 months to the end of December 26 last year.
Operating profits increased 27% from $3.2m to $4.1m.
The board of the company included the general manager of Intel Ireland, Jim O’Hara who resigned from the board in September of this year when he retired as Intel’s general manager.
On the company’s future developments, the directors state that the company “will continue to research and develop improvements in communication and networking technologies.”
At the jobs’ announcement last year, Intel Shannon’s general manager, Jonathan Walsh said that the development of leading edge ‘32 nanometre’ design at Shannon “is literally the most advanced silicon technology on the planet,” adding “no one else on the planet is dealing with more advanced technology.”
The project at Shannon involves the development of a new chip with a significantly improved design for embedded applications.
Mr Walsh forecast that by 2015, there will be 15 billion devices connected to the internet across the world and the leading edge 32 nanometre design being developed “is key to Intel supporting the unprecedented growth in the market for embedded processors”.
However, he also warned that Ireland is not, currently, producing enough graduate or post graduate people “at the right level” to work in computer science and electronic engineering.
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