GlobalFoundries and STMicroelectronics Formally Sign Agreement for New 12-inch Semiconductor Fab in France
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Update time : 2023-06-09 09:33:45
GlobalFoundries Inc. and STMicroelectronics recently announced that the partnership announced in July 2022 to build a new high-capacity semiconductor fab in Crolles, France, is now officially completed.
Dr. Thomas Caulfield, President and CEO of GlobalFoundries, said, "I would like to thank French Minister of Economy and Finance Le Maire and his team for their support and dedication over the past year or so to make this project possible today. Through this joint project with STMicroelectronics in Crolles, France, GlobalFoundries will further expand its presence in the dynamic European technology ecosystem. At the same time, benefiting from economies of scale, we will utilize our capital more efficiently and provide our customers with greater capacity. Combined with GF's market-advanced FDX technology and ST's rich technology portfolio, we believe our partnership will meet our customers' continued high demand for automotive, IoT and mobile chips in the coming decades."
Jean-Marc Chery, President and CEO of STMicroelectronics, said, "Today is an important day for STMicroelectronics, for GlobalFoundries and for Europe. The project would not have been possible without the strong support of the French government and the European Commission. We will further strengthen the FD-SOI ecosystem in Europe and France, increase capacity for advanced and complex technologies, and meet the digital and low-carbon transformation needs of our European and global customers in key end markets such as automotive, industrial, IoT, and communication infrastructure. This new facility will also help ST achieve its $20 billion + revenue target."
Total capital expenditures, maintenance costs and ancillary costs for the program are expected to be €7.5 billion. The French government (executed by the Banque Nationale d'Investissement) will provide significant financial support for the new plant. The financial assistance is in line with the objectives of the European Chip Act and the relevant regulations of the France 2030 Plan, which was recently approved by the European Commission.
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