Our website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

EU and Belgium invest $1.6 billion in chip technology firm Imec

by Uma
0 comment

EU and Belgium invest $1.6 billion in chip technology firm Imec

BRUSSELS (Reuters) -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.

Imec will use the investment to expand its “clean room” test facility with the most advanced equipment and processes, the company said in a statement.

“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.

($1 = 0.9195 euros)

(Reporting by Charlotte Van Campenhout; editing by Mark Potter)