NIJMEGEN, Netherlands (Reuters) – Netherlands-based pc chip maker NXP stated on Wednesday it has secured a 1 billion euro ($1.03 billion)mortgage from the European Funding Financial institution (EIB) to help analysis and growth tasks in 5 European nations.
The EIB, the European Union’s long-term lending establishment, stated the mortgage was a part of a funding programme it launched final 12 months geared toward strengthening Europe’s place in strategic applied sciences together with microchips and synthetic intelligence.
NXP, one of many largest makers of semiconductors utilized in vehicles, stated it might draw on the six-year mortgage facility, which carries a 4.75% rate of interest, for tasks in Austria, France, Germany, the Netherlands and Romania.
Aside from the pure analysis and growth of recent energy electronics units, microprocessors and microcontrollers, NXP may also concentrate on the vitality effectivity of its units, it stated in an announcement.
Europe should “stay an indispensable participant within the worth chains of important applied sciences,” EIB supervisor Robert de Groot stated in an announcement.
“Semiconductors are key to the digital and inexperienced transitions.”
Earlier this month NXP introduced a $625 million acquisition of Austria’s TTTech Auto.
($1 = 0.9710 euros)
(Reporting by Toby Sterling; Modifying by Tomasz Janowski)
