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Essex Junction, Vermont - February 18, 2009
A financial boost for Big Blue in Essex Junction...
The IBM plant has landed a contract with Ramtron International, a Colorado-based semiconductor maker. The Essex Junction plant will install technology into its chips-- known as F-RAMs. The chips are used in everything from cars to hearing aids.
Ramtron is investing $11 million in IBM to start and the contract will extend for more than five years.
At this point, no new jobs are planned at IBM but plant officials say it's a solid business deal and the kind of contracts IBM is looking for.
"They are a small company but a growing company and in the chip business they are one of the few companies that have been making money, so we are very happy to be doing business with them," said Jeff Couture, a spokesman for IBM. "This has been a tough time. We have gone through layoffs... and obviously the more business we bring in the more secure this facility will be for the long term and for the employment and all of the things people look at us for."
Couture says IBM Essex Junction will begin making chips for Ramtron next year if not before.
Darren Perron - WCAX News
