Netherlands makes efforts to retain ASML, the giant in photolithography machines

Industry Dynamics|Industry Trends|

2024-03-12 17:26:11 754

According to a report from Reuters on March 6th, Dutch Minister of Economic Affairs Miki Adriaanse stated that the Dutch government is in negotiations with semiconductor equipment manufacturer ASML to ensure that the company, the largest in the Netherlands, does not relocate or expand abroad due to the country's anti-immigration policies.

The initial report of this development came from the Dutch newspaper "Telegraaf," citing anonymous sources who referred to the initiative as "Operation Beethoven."

Adriaanse confirmed in an interview with Reuters that she met with ASML's CEO Peter Wennink in The Hague on the 6th as part of the ongoing negotiations. She stated, "I don't know if they will leave. They want to grow. They have ambitions for large-scale growth, which puts pressure on our infrastructure. This is why we are engaged in intensive discussions with them, because we want to understand if this is a problem we can solve."

Following a significant victory by anti-immigration parties in the 2023 elections, Wennink warned in January of this year that his company heavily relies on skilled foreign labor.

ASML declined to comment, but Wennink expressed concern about the deteriorating business environment in the Netherlands at an event in The Hague, stating, "There are factors that make us a great company, and these factors are under pressure." He mentioned the government's increasingly stringent regulations and plans to eliminate tax benefits for skilled immigrants.

The company employs 23,000 staff in the Netherlands, with approximately 40% being non-Dutch. As Europe's largest technology company, it currently sources components globally and assembles machines in Veldhoven, Netherlands, before shipping them to major computer chip manufacturers.

ASML dominates the market for photolithography systems used to help draw chip circuits. The company is currently undergoing an expansion, anticipating the need for further growth in the coming years as global demand for chips increases.

In recent years, following unfavorable changes in Dutch tax laws, multinational companies such as Shell and Unilever have departed from the Netherlands.

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Netherlands makes efforts to retain ASML, the giant in photolithography machines

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