Chipmaker AT&S to invest 120 mln euros in expanding production in Austria

VIENNA, July 20 (Reuters) - Austrian chipmaker AT&S on Monday said it plans to invest up to 120 million euros ($137 million) over four years in technology upgrades to increase and modernise production capacity at its home location.

Around 100 million euros are to be spent on new machinery and processing and 20 million euros will go into research and development, said AT&S, which produces circuit boards for smartphones and tablets and supplies the likes of Apple and Intel.

AT&S plans to use the investment to increase its circuit board production capacity at its site in Leoben, in Austria’s Styria province, by 50% to around 340,000 panels per year.

$1 = 0.8736 euros Reporting by Kirsti Knolle Editing by Michelle Martin