Texas Instruments is export policy poster child
Semiconductor maker Texas Instruments is the type of company that exemplifies the Obama administration's effort to encourage U.S. companies to pursue opportunities in overseas markets as it seeks ways to boost the economy and create jobs.
Rich Templeton, chairman and chief executive officer of the Dallas-based chip manufacturer, said in a speech to the Dallas Regional Chamber on Tuesday that 90 percent of the company's revenue comes from outside the United States, according to the Dallas Morning News.
China is TI's largest market.
Templeton said that technology now makes up 17 percent of U.S. exports, the largest category, with semiconductors the biggest component of that category, the newspaper reported.
The tech executive said U.S. policy changes are needed to allow companies to take advantage of international opportunities and called on lawmakers to pass more free trade agreements.
Texas Instruments last week reported second quarter revenue increased $1 billion to $3.5 billion, while net income nearly tripled to $769 million.
The company said investments in additional plant capacity during the economic downturn are allowing it to meet high customer demand and shorten lead times. ' Eric Kulisch
Texas Instruments is export policy poster child
