NANO-X IMAGING Opens New Plant in South Korea
Apr 5, 2022 By MarketDepth
NANO-X IMAGING LTD (Nasdaq: NNOX) today announced that it has opened its new semiconductor chip fabrication plant in South Korea.
Shares of NANO-X IMAGING LTD (Nasdaq: NNOX) gained over 9% during the premarket trading session following the announcement.
“Amidst a global supply chain crisis, the new facility enables Nanox to produce our own supply of semiconductor chips that are integral to the Nanox.ARC. Our new fabrication plant is an important part of our strategy of vertical integration to ensure we can deliver a global, connected medical imaging solution with the potential to meaningfully expand delivery of healthcare.”Erez Meltzer, Chief Executive Officer of Nanox
The new facility is a highly advanced fabrication plant, and will be the main production site of Nanox micro-electro-mechanical systems (“MEMs”) known as Nanox.SOURCE, with the Company expecting to get to scale for production by mid-year 2022. The facility is also strategically located next to the world’s largest semiconductor cluster in Yongin, South Korea, and spans 12,000 square meters.
“Establishing a manufacturing facility in Korea is a significant move for Nanox. This is a perfect synergy of Korean investment, Israeli innovation and Korean manufacturing.”Akiva Tor, Ambassador of Israel to the Republic of Korea