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”
Top Posts & Pages
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Analyst: KiOR Columbus plant may end up sold as scrap
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Ex-MDEQ leader Fisher joins Butler Snow
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- Gulf oil rig explosion kills one worker, injures three
- Can Metrocenter rise from the ashes? Again
- Federal appeals court: State's abortion law is unconstitutional
- Court hits David Watkins with $600,000 order over Retro Metro issues