Intel Corporation has announced an agreement to bail out a factory in Kiryat Gat, thereby saving about 800 jobs, The Jerusalem Post reported on Monday.
The facility had been leased to Idaho-based Micron, which had been planning shut-down operations within two years.
“The current deal with Micron once again exhibits Intel Corporation’s longtime commitment to Intel Israel and to the state of Israel,” said Intel Israel general-manager Maxine Fassberg.
“Micron Israel has talented people who will contribute to Intel’s continuous growth and development.”
The deal is expected to close by the end of the year.
The decision by Intel, already Israel’s largest private-sector employer, to boost its workforce further drew praise from officials in the Finance Ministry.
“We see in this a vote of confidence in Israel as a hi-tech superpower and a strategic target,” said a government spokesman.