€350million EIB loan awarded to STMicroelectronics
The European Investment Bank (EIB) has granted a €350million loan to STMicroelectronics to support its industrial and R&D programmes.
ST says the money will help fund research into the development of next generation electronic chips and focus on new mobile applications. Europe's biggest chipmaker aims to create innovative and economically competitive technologies and improve energy efficiency. The work will be carried out over three years at ST's sites in Rousset, Crolles, Grenoble and Tours.
ST has also revealed its investment will exceed 7% of its sales in 2010 to meet rebounding chip demand. According to Le Figaro, the company is increasing production capacity by 20%, with investments being limited to 5% of sales in 2009.
