News

February 10, 2010

M+W Moving HQ From Dallas To Watervliet

By: by Pam Allen, The Business Review

Source:

M+W Americas Inc. will relocate its corporate headquarters to Watervliet from Dallas, a move that will double its existing local work force to at least 250 people in the next year to 18 months.

M+W is building the $4.2 billion chip fab in Malta, Saratoga County, for GlobalFoundries. M+W Americas is a subsidiary of M+W Group based in Germany. M+W is one of the world's largest builders of chip plants.

Rick Whitney, president and CEO of M+W Americas Inc., said the company has been working toward the headquarters change for several years, mainly because of the new activity occurring in the Tech Valley area.

"Our corporate approach is to always be close to our clients. As this region continued to develop, and companies continued to move toward this area, it became clear that this is where a lot of the research and development is taking place," Whitney said.

M+W has done work for companies that make up Sematech, a consortium of technology companies at the Albany NanoTech that includes such companies as IBM and Intel. M+W built IBM's factory in East Fishkill as well as the $5 billion Albany NanoTech campus. Albany NanoTech is home to the University at Albany's College of Nanoscale Science and Engineering.

Whitney said M+W will invest more than $200 million over the next five years for infrastructure, expansion and new salaries at its locations at the Watervliet Arsenal as well as Albany NanoTech.

The state will contribute $6.5 million to renovate space at the arsenal, according to Assembly Speaker Sheldon Silver and Assembly Majority Leader Ronald Canestrari, who helped broker the deal.

The move will be formally announced this morning at UAlbany's NanoCollege.

Currently, 120 M+W Americas employees work in the Capital Region, including at the GlobalFoundries site. Whitney said the company's Dallas employees were notified of the change on Monday, and told they could move to the Capital Region. Whitney said it's too early to know how many workers will relocate.