GloFo and ST finalise settlement on fab

GlobalFoundries has reached an agreement with ST to jointly operate a new high-volume, joint-operated facility. Semiconductor Crolles, France, will have a manufacturing facility that will be introduced on 11th July 2022.

"I would like to thank Minister Le Maire the French Minister of Finance and Economy, and his team for their support and dedication in the last 12+months that have made this milestone possible," stated Dr. Thomas Caulfield. "In partnership ST Crolles, GF is increasing its presence in Europe's dynamic technology ecosystem whereas utilizing economies of scale in order to deliver more capability in a capital-efficient manner. Together, we'll deliver GF's FDX expertise, which is the market leader, and ST's entire expertise roadmap in line with customer demand, which is expected to remain high for Automotive, IoT and Cellular functions over the next many years."

"Today marks a crucial milestone for ST and GF as well as for Europe. This would not have been possible without the help of the French government and the European Commission," said Jean-Marc Chery. "We'll further strengthen the European and French FDSOI ecosystem by building more capability for European and international clients, in complex, superior technologies, for key end-markets such as automotive and industrial, IoT infrastructure and communication, as they transition towards digitalization and decarbonization. This new facility will help us achieve our $20 billion+ sales goal."

This system represents total projected costs of seven,5 billion euro in CAPEX, maintenance and ancillary price.

The new facility will benefit from a significant financial assistance from the State of France, administered by Bpifrance.

The European Fee has just approved the help measure that is in line with the goals of the European Chips Act, and a part the "France 2030 plan".

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