The U.S. Export-Import Bank approved a $1.03 billion loan to GLOBALFOUNDRIES to finance the export of American-made semiconductor manufacturing equipment to Germany.
The transaction, which is Ex-Im Bank’s third with GLOBALFOUNDRIES and its related entities, will support about 9,700 jobs, according to Commerce and Labor department data.
Four American exporters from California, Massachusetts, and Oregon will participate in the transaction.
In specific, Ex-Im Bank’s credit will support the expansion of the GLOBALFOUNDRIES Fab 1 silicon-wafer-fabrication facility in Dresden, Germany. The expansion will increase the company’s capacity to manufacture semiconductor products, which are critical components of personal computers, tablets, and smart phones.
Started in March 2009 and based in Milpitas, Calif., GLOBALFOUNDRIES is the second largest dedicated semiconductor foundry in the world. Its global footprint is supported by major facilities for research, development, and design enablement. GLOBALFOUNDRIES is owned by the Advanced Technology Investment Co.
Applied Materials Inc., one of the exporters involved in the transaction, is a leader in providing equipment to enable the manufacture of advanced semiconductors. Based in Santa Clara, Calif., Applied Materials has more than 7,000 employees in the United States, located primarily at corporate, manufacturing, and research-and-development facilities in California, Massachusetts, Montana and Texas.
Atradius of the Netherlands is also lending to GLOBALFOUNDRIES as part of an export-credit-agency facility totaling $1.5 billion.
Ex-Im Bank backs $1.03 billion for U.S. exports to Germany
