Italy and France: EIB supports strengthening of Europe's semiconductor industry with €600 million loan to STMicroelectronics
02 März 2022 - 09:00AM
Italy and France: EIB supports strengthening of Europe's
semiconductor industry with €600 million loan to STMicroelectronics
Italy and France: EIB supports
strengthening of Europe's semiconductor industry with €600 million
loan to STMicroelectronics
- A loan to finance research and development (R&D)
and new innovative production lines of a global semiconductor
leader
- This support is in line with the policy of the European
Union and its Member States to strengthen the semiconductor
industry in Europe
- Funding that also contributes to the strategic
objectives of European technological sovereignty in the
semiconductor industry
Paris, March 2, 2022 – The European Investment
Bank (EIB) is providing significant financial support to
STMicroelectronics: a €600 million loan for the semiconductor
group's research and development (R&D) and
pre-industrialisation activities in Europe.
The operation concerns investments in R&D activities for
innovative technologies and components, as well as in pilot
production lines for advanced semiconductors. These investments
will be implemented in STMicroelectronics’ existing facilities in
Italy (Agrate and Catania) and France (Crolles). They will
contribute to the development of technologies and products to
address the major challenges of environmental transition and
digital transformation in all sectors.
The global semiconductor market is currently worth more than
€500 billion and is expected to double by 2030. Europe accounts for
around 10% of world production capacity, a sharp decline compared
with previous decades (24% in 2000 and 44% in 1990).
The EIB's support for STMicroelectronics actively contributes to
the policies put in place at European level in coordination with
the Member States, in order to strengthen the semiconductor
industry in Europe, in research and development, design and
production and bring public financing to strategic industrial
projects. The aim is to support the competitiveness of European
players of this key sector, as it affects all industrial sectors,
particularly those in which European manufacturers hold leadership
positions.
Bruno Le Maire, French Minister for the Economy, Finance
and Recovery, said: “There will be no political
sovereignty without digital sovereignty. Europe must use all the
tools it has, to invest in new technologies. The EIB’s role is
crucial, when it grants a €600 million loan to STMicroelectronics.
Our goal is clear: to accelerate the production of semiconductors
in France and Italy. It is only by mastering this technology, that
we will be able to safeguard the European Union’s strategic
independence. Those investments contribute more broadly to the
support to our new growth model that creates high-value industrial
jobs in our countries.”
Daniele Franco, Italian Minister for the Economy and
Finance, said: “The semiconductor industry is fundamental
for the digital transition of the European Union economies. The
support that the EIB provides to STMicroelectronics, one of the
world’s most advanced and innovative companies, represents an
important step towards strengthening and making the European
semiconductor industry more competitive, with a significant impact
on employment and growth.”
Jean-Marc Chéry,
President and CEO of STMicroelectronics, said: "This new
loan from the EIB, with which we have been working in partnership
for many years, is complementing the various existing instruments
supporting our industry, such as the important projects of common
European interest (IPCEI) and others that are currently being set
up by the European Commission and the Member States. It is
essential to work in Europe on the whole value chain: R&D,
design and manufacturing, in collaboration with the different
European ecosystems. ST will contribute to the goal of 20% of
global production in Europe by 2030 and will continue to develop
and manufacture in Europe innovative technologies and products to
support the environmental transition and the digital transformation
of all industries.”
EIB Vice-President Gelsomina
Vigliotti, said: "Semiconductors
are the key components without which no digital and ecological
transition is possible. Thanks to the long-standing relationship
between the EIB and ST, which has resulted in eight financing
operations since 1994 worth more than €3,15 billion, the EIB
supports Europe's autonomy, competitiveness and technological
sovereignty.”
EIB Vice-President Ambroise
Fayolle, said: “Financing
innovation, a key factor in European competitiveness and
technological sovereignty, is an EIB priority. This €600 million
loan to support the R&D efforts of one of Europe's leading
semiconductor companies illustrates Europe's commitment to this
sector, which is crucial to the future of our economies and our
strategic autonomy.”
Background information
STMicroelectronicsSTMicroelectronics is one of
the world's leading semiconductor companies, with a strong European
R&D and manufacturing footprint. Since 1994, the EIB has been
able to support ST through seven operations for a total amount of
over €3.15 billion. An independent device manufacturer mastering
the semiconductor supply chain with state-of-the-art manufacturing
facilities, ST employs over 48,000 people working with more than
200,000 customers and partners to enable smarter mobility, more
efficient power and energy management, and the wide-scale
deployment of the Internet of Things and 5G technology. ST is
committed to becoming carbon neutral by 2027. Further information
can be found at www.st.com.
European Investment BankThe EIB, whose
shareholders are the 27 Member States of the European Union, is the
Union's long-term financing institution. It finances quality
investment that contributes to the achievement of the European
Union's policy objectives. In 2021, the EIB provided more than €3
billion in Italy and France for projects dedicated to innovation
and digital transformation.
Press contacts
EIBChristophe Alix, c.alix@eib.org, tel: +352
43 79 84303, mobile: +33 6 11 81 30 99Lorenzo Squintani,
l.squintani@eib.org, tel: +352 4379-82528, mobile: +352 691 285
772Website: www.eib.org/press - Press Office: +352 4379 21000 –
press@eib.org
STMicroelectronicsMedia relations: Alexis
Breton, alexis.breton@st.comInvestor relations: Celine Berthier
celine.berthier@st.comWebsite: www.st.com
FranceCabinet of Bruno Le Maire:
presse.mineco@cabinets.finances.gouv.fr, +33 1 53 18 41 13
ItalyMinistry of Economy and Finance:
ufficio.stampa@mef.gov.it, +39 06 47614605
- C3076C -- Mar 2 2022 -- EIB loan_FINAL FOR
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