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STMicro, GlobalFoundries to build French microchip plant -Le Figaro

Stock Markets Jul 10, 2022 01:40PM ET
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© Reuters. FILE PHOTO: A logo is pictured on the factory of STMicroelectronics in Plan-les-Oautes near Geneva, Switzerland, December 6, 2016. REUTERS/Denis Balibouse

PARIS (Reuters) -GlobalFoundries Inc and STMicroelectronics will announce on Monday plans to build a semiconductor factory in France for an investment of nearly 4 billion euros, as part of Europe's efforts to boost its independence in microchips, Le Figaro reported on Sunday.

This would help support a push from the European Commission to produce 20% of the world's microchips in Europe by 2030.

The investment is expected to be announced during the fifth edition of the President Emmanuel Macron's "Choose France" summit to be held on Monday in Versailles.

STMicro declined to comment.

A snapback in demand for products ranging from smartphones to cars, following a slump caused by the coronavirus pandemic, has disrupted chip supply chains especially in the car industry.

STMicro, GlobalFoundries to build French microchip plant -Le Figaro
 

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Comments (2)
Kit Ali
Kit Ali Jul 10, 2022 2:44PM ET
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just wait till you try and fire a French employee, or get them to put more than a 9 to 5 effort into their work. 1 yr maternity leave, basically the laziest people in the western world. Brits are pretty lazy too
Brad Albright
Brad Albright Jul 10, 2022 2:44PM ET
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It sounds like they have life figured out.
Flavio Man
Flavio Man Jul 10, 2022 2:44PM ET
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Here he goes: another capitalist wannabe
John Worsley
John Worsley Jul 10, 2022 2:44PM ET
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Until you have a baby pop out your ********maybe you should withold judgement
jason xx
jason xx Jul 10, 2022 1:51PM ET
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Congress better pass the chips act or Moscow mitch will be voted out
 
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