German firms to receive 4 bln euros through EU microelectronics push
Technology
German firms to receive 4 bln euros through EU microelectronics push
BERLIN (Reuters) - Over 30 microelectronics projects in Germany will receive about 4 billion euros ($4.29 billion) in funding after the European Commission approved a support scheme for such technologies, the German Economy Ministry said on Thursday.
"The 31 microelectronics projects from 11 federal states strengthen Germany as a microelectronics location across the board and are an important industrial policy milestone," said Economy Minister Robert Habeck.
The money comes from a total of 8.1 billion euros ($8.7 billion) in state aid approved by the European Union's executive, part of the bloc's drive to be at the cutting edge of technological innovation.
A document provided by the German economy ministry showed Infineon (IFXGn.DE), Elmos Semiconductor (ELGG.DE) and Robert Bosch [RIC:RIC:ROBG.UL] among the companies to receive funds.
Not on the list was Nexperia, a chip manufacturer whose production is based largely in Hamburg and is headquartered in the Netherlands, but which is Chinese-owned.
The company was removed from the list following a decision involving Habeck, who had concerns about the company's Chinese connection, the Handelsblatt business daily reported on Thursday, citing government sources.
The economy ministry did not immediately respond to an emailed request for comment on the report.
