Amkor Technology To Invest $60 Million To Expand China Plant By 45%

Semiconductor packaging and test services company Amkor Technology Inc. said Tuesday it is planning to invest about $60 million to expand its assembly and test factory in China's Shanghai free trade zone. The company said the expansion will increase its Chinese manufacturing facilities by 45% to almost 60,000 square meters. The Shanghai operation is Amkor's second-biggest measured by revenue, according to Chief Executive Steve Kelley. Shares rose 2% in afternoon trade, but are down 23% in the year so far, while the S&P 500 has gained about 3%.