Belgian chip firm Imec to receive $1.6 bn funding

The European Union and Belgium’s regional Flemish government will together invest 1.5 billion euros ($1.6 billion) in Belgian chip technology firm Imec, the Flemish government said on Friday.
BE SemiconductorImec will use the investment to expand its clean room test facility with the most advanced equipment and processes.

“We know we will get our money back, not only in euros but also in societal dividend,” Flemish minister-president Jan Jambon said at a joint press conference with European Commission President Ursula von der Leyen and Belgian Prime Minister Alexander De Croo.

Von der Leyen, who was visiting Imec, stressed the EU’s stance that it should de-risk its supply chains for chips.

While Von der Leyen did not directly address China’s planned curbs on exports of strategic metals widely used in the semiconductor industry, she said the EU should reduce its dependency “on too few suppliers from East Asia”.

Earlier this week, the EU expressed concern over China’s plans, Reuters news report said.

Latest

More like this
Related

Broadcom and TSMC want to buy part of Intel?

Intel, once a dominant force in the semiconductor industry,...

Global semiconductor sales reach $627 bn in 2024: SIA

Global semiconductor sales reached $627.6 billion in 2024, marking...

Who’s Tim Breen, the new CEO of GlobalFoundries?

GlobalFoundries has announced a leadership restructuring with Dr. Thomas...

Samsung beats Intel to reclaim #1 position in semiconductor industry

The latest Gartner report has indicated the size of...