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0 0.000991817505578952 0.000991817505578952 0.000991817505578952 -0.000991817505578952 -0.000247954376394694 -0.000247954376394694 0.00198363501115808
Stock impact report

EU approves state aid for two German semiconductor plants [Yahoo! Finance]

GlobalFoundries Inc. (GFS) 
Company Research Source: Yahoo! Finance
Manufacturer GlobalFoundries will receive a grant of €495 million to adjust and expand its existing site in the eastern German city of Dresden to produce semiconductors for the aerospace, defence and critical infrastructure markets, the commission said on Thursday. X-FAB will receive a grant worth €128 to build an additional manufacturing facility at its site in Erfurt to produce chip technologies crucial for the automotive, artificial intelligence (AI) and medical sectors. "Open foundries are vital for boosting competition and innovation in Europe's semiconductor sector," said European Commission Vice President Teresa Ribera. The aid "will allow the creation of two new facilities that Europe does not yet have, helping to reduce our dependence on foundries outside the EU and strengthening the resilience of Europe's entire industry," she said. The European Commission has to approve state aid provided by capitals to ensure a level playing field between the European Union's 27 m Show less Read more
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