SemiSouth making $18M investment in new equipment; could double employment
Published: March 13,2012
STARKVILLE — SemiSouth Laboratories plans to spend $18 million to buy new equipment for its Starkville facility, a move that could double employment there over the next 18 months.
Privately-held SemiSouth makes silicon carbide semiconductors for solar panels, wind turbines, electric cars and other devices that need to transmit power without leaking any electricity along the way. Right now it has 115 employees
Jeff Cassady, a former Mississippi State University professor who is one of the company’s co-founders, said that one of SemiSouth’s current investors is putting up the money.
Cassady didn’t name the investor. Power Integrations put $30 million into SemiSouth in 2010. Before that, SemiSouth had raised $20 million from venture capital investors and $30 million from federal grants and contracts.
SemiSouth has invested $40 million in facilities and equipment since it was founded in 2000, Cassady said. He said employees in Starkville should rise to 230 over the next 18 months.
It’s the second expansion of the facility in the last 18 months, SemiSouth said.
“This new expansion will allow us to expand our volume another 50 percent for these customers and new ones starting up with us,” Cassady said in a statement.
He declined to release sales figures for SemiSouth.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “SemiSouth making $18M investment in new equipment; could double employment”
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Wasted away — Margaritaville in Biloxi to close by Sept. 19
- WILLOUGHBY: Broadband Voice founder Gary Watts isn’t afraid to take chances
- Severstal selling plants, including Severstal Columbus
- McDaniel alleges GOP race-baiting; says party should be 'purged'
- Mississippi Power conducts successful tests at Kemper plant
- Seafood dealer/processor guilty of illegal handling of oysters
- Medical transportation company opening operation/call center
- Chevron U.S.A.'s base oil facility begins production
- Corn growers watch bear market eat profits
- Chinese drywall manufacturer fined, banned from doing business in U.S.