Micron CEO Touts Automotive Chip Business At New Plant Site

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MANASSAS, Va. — Micron Technology ( MU ) on Wednesday announced plans to invest $3 billion over the next decade to increase memory chip production at its plant in Northern Virginia.XThe increased chip production will serve customers primarily in the automotive, networking and industrial markets."The total market for automotive (memory chips) is doubling in a matter of three to four years," Mehrotra told Investors Business Daily.The factory, located 40 miles west of Washington, D.C., produces Nand, Nor and DRAM memory chips.The research and development center will include laboratories, test equipment and a staff of about 100 engineers, Micron said .

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