Seagate Technology PLC (STX) Opens Research Center Worth $74.9 Million In Singapore Dedicated To Small Form-Factor Storage Components Of 2.5-Inch

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Seagate Technology PLC (NASDAQ:STX) is investing more in Singapore. The data storage products company has opened a new research and development facility in Singapore with a $74.9 million investment. The new facility will have a special focus on small size storage components and also complement local research efforts in mobile storage.

Making it green

Seagate earlier announced plans for a new R&D facility in Singapore back in July 2013. The new R&D center covers 40,000 square meters and is fitted with eco-friendly energy solutions, such as solar panels and energy efficient lighting. The nine-story research center is also equipped with rainwater harvesting systems.

The Shugart research center will develop hard drives, software, firmware and related technologies. The facility will complement the local storage research team that primarily focuses on mobile. The facility will focus on 2.5-inch storage components.

Seagate Technology PLC (NASDAQ:STX) disclosed that the Shugart research center (named after Seagate’s founder Al Shugart) has room to accommodate 900 workers. The Shugart facility joins Seagate’s other design centers globally, including in the U.S. and South Korea.

Seagate’s love for Singapore

Seagate Technology PLC (NASDAQ:STX) already has two other facilities based out in Singapore. Its International headquarters is based in central Singapore. The company also runs the Woodlands Recording Media Operations. The Woodlands facility was expected in 2006 at a cost of $973.76 million.

In Singapore, Seagate has more than 7,000 employees. Of these employees, more than 500 are researchers and engineers at the new R&D center.

The opening event of Seagate Technology PLC (NASDAQ:STX)’s new research facility in Singapore was attended by Lim Hng Kiang, the country’s Minister for Trade and Industry. According to Kiang, Singapore accounted for nearly half of the global hard disk media manufacturing capacity. Kiang further disclosed that Seagate was the first company to establish a HDD components sub-assembly facility in the country. That was back in 1982.

The Shugart research center will play a key role in developing mobile computers, digital video recorders, backup storage devices and more.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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