GlobalFoundries, STMicroelectronics to Build Chip Factory in France
July 11 2022 - 12:47AM
Dow Jones News
By Mauro Orru
GlobalFoundries Inc. and STMicroelectronics NV have agreed to
build a new chip-making plant in France, adding much-needed
capacity to manufacture semiconductors in Europe after a global
shortage spanning more than two years.
European chip maker STMicroelectronics said Monday that it had
signed a memorandum of understanding with GlobalFoundries to
deliver the new multibillion-euro project that is set to receive
significant financial help from the French government.
STMicroelectronics said the new plant would be adjacent to its
existing facility in Crolles, France. The plant will operate at
full capacity by 2026, bringing in some 1,000 new jobs.
The world's leading suppliers of semiconductors are still
pushing to overcome the prolonged chip shortage that has hampered
production of everything from home appliances to PCs to autos.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
July 11, 2022 01:32 ET (05:32 GMT)
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