Cleary Gottlieb represented GlobalFoundries in connection with the establishment of a new semiconductor manufacturing facility in France to be jointly operated with STMicroelectronics (ST).
On July 11, 2022, GlobalFoundries and STMicroelectronics announced the signing of a memorandum of understanding for the establishment near Grenoble, France, of this new 300 mm semiconductor manufacturing facility, adjacent to ST’s existing 300 mm facility in Crolles, France.
The new facility will support several technologies, in particular FD-SOI-based technologies, and is targeted to ramp at full capacity by 2026, with up to 620,000 300 mm wafer per year production at full build-out.
With projected multibillion euro collaborative investment that includes significant financial support from the French State, this project will lead to the creation of 1,000 jobs and strongly contribute to the objectives of the European Chips Act, including the goal of Europe reaching 20% of worldwide semiconductor production by 2030.
GlobalFoundries is one of the world’s leading semiconductor manufacturers and delivers feature-rich solutions that enable its customers to develop innovative products for pervasive chips for high-growth markets. With an at-scale manufacturing footprint spanning the U.S., Europe, and Asia, GlobalFoundries is a trusted technology source to its customers across the globe. GlobalFoundries is majority owned by Mubadala.
STMicroelectronics is a global semiconductor leader serving customers across the spectrum of electronics applications.