A ceremony marking the completion of Littelfuse's new project is held in Wuxi. [Photo/WeChat account: xinwu_wx]

US multinational company Littelfuse, which is a leader in circuit protection, announced that it will invest $70 million in the Wuxi National Hi-tech District from 2023 to 2027 at a completion ceremony of new land development on July 17.

According to the agreement, the new investments will focus on the construction of a 20-centimeter wafer production line. The line is expected to generate $100 million in annual sales.

The completion ceremony is for a $90-million project that covers an area of 9,200 square meters.

Donald Garrison, vice-president of wafer manufacturing at Littelfuse's semiconductor products division, praised Wuxi's industrial foundation and business environment in his speech and said the ceremony marked the company's rapid growth and its confidence in gaining a stronger foothold in Wuxi.

Cui Rongguo, a Party official of the high-tech district, said that Littelfuse's semiconductor branch in Wuxi has played a significant role in promoting the high-quality development of the local integrated circuit industry over the past 20 years. The company's new projects and investments will aid the district and Wuxi in developing a world-leading IC Industry, he added.

Littelfuse Semiconductor (Wuxi) Co Ltd is the group's largest production base for circuit protection components, and its major customers are all Fortune Global 500 companies.