STMicroelectronics secures €1B EIB credit line
Photo: Reuters
Chipmaker STMicroelectronics announced on Thursday that it has established a €1 billion ($1.2 billion) credit line with the European Investment Bank (EIB).
The first €500 million tranche will support research and development as well as high-volume chip manufacturing in Italy and France, the company said in a statement, News.Az reports, citing Reuters.
“About 60% of the agreement is focused on high-volume manufacturing capabilities, including key sites in Catania, Agrate, and Crolles, while the remaining 40% is dedicated to R&D,” the Franco-Italian group added.
This marks the ninth financing agreement between the EIB and STMicroelectronics, bringing total support to €4.2 billion since 1994.
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