STMicroelectronics: new manufacturing unit in France
(CercleFinance.com) - GlobalFoundries and STMicroelectronics today announced the conclusion of the agreement announced on 11 July 2022 for the creation of a new 300mm high-volume semiconductor manufacturing facility to be jointly operated in Crolles, near Grenoble.
Together, it will deliver GlobalFoundries' leading-edge FDX technology and ST's comprehensive technology roadmap in line with customer demand, which is expected to remain strong in the automotive, IoT and mobile communications sectors over the coming decades, GlobalFoundries said.
Meanwhile, STMicroelectronics adds that this new production facility will support its sales target of $20bn and beyond.
The program has an estimated total cost of E7.5bn, in terms of for capex, maintenance and related costs.
The new plant will receive substantial financial support from the French government. This aid, which is in line with the objectives set out in the European Chips Act and forms part of the "France 2030" plan, was recently approved by the European Commission.
Copyright (c) 2023 CercleFinance.com. All rights reserved.