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Wolfspeed, a semiconductor chipmaker headquartered in Durham, informed investors Wednesday it expects to begin producing silicon carbide wafers at its new Siler City factory during the first half of next year. To meet its timeline, the manufacturer will begin workforce training in the western Chatham County town as early as next month. Nicknamed the “JP” after the company’s late cofounder John Palmour, the incoming $5 billion facility promises to create 1,800 jobs by the end of the decade. For now, Wolfspeed is coordinating with Central Carolina Community College to implement a curriculum. The first employee training class is anticipated to begin in March with additional classes to be held over the summer, said Erin Blakeley, a project manager at Central Carolina. While the community college’s main campus is in Sanford, the course will be taught at Central Carolina’s center in Siler City, down the road from the plant.
Wolfspeed stock fell more than 13% Thursday as investors reacted negatively to the company’s lower revenue outlook. Though the chipmaker beat earnings estimates last quarter, Gronbach said weaker prospects in Asia is suppressing the share price.
Wolfspeed, a North Carolina company, appears to be on track to finish a manufacturing facility hardly nine months after breaking ground. Before a tent full of people CEO Gregg Lowe remarked on how far they’ve come since the first steel beam was laid in June.
“Look where we are today. It’s an amazing transformation in such a short amount of time,” Lowe said.
The already large two-million-square-foot facility has crews of more than 2,000 workers toiling away seven days a week to meet construction expectations.
More than 18 months after Gov. Roy Cooper announced a megasite in Chatham County, the company gave media members a tour of its future “spine” of operations.
Workers raised a beam to signify the future home of Wolfspeed’s second production plant in a ceremonial gesture. Senior Vice President of Global Expansion Tom Agron said a final beam symbolizes the completion of the building process and the start of a new chapter in which the facility is actually brought to life.
“It is a place to top the new building to secure good fortune for the structure and its inhabitants,” Agron said.
The physical milestone represents a company-wide goal of meeting global demand. Chief Technical Officer Elif Balkas said as supply continues to dwindle that goal is as important as ever.
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