ASML signs letter of intent in Eindhoven: 20,000+ new staff in the Netherlands

ASML is considering a rather large expansion of its operations in the Dutch city of Eindhoven, signing a letter of intent to look into an expansion that would house 20,000 new employees in an underdeveloped area north of Eindhoven, near the city's airport.

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We've been reporting that the Dutch government is very keen on keeping its largest company in the Netherlands -- ASML, obviously -- from expanding out of the country and instead keeping it home in the Netherlands. The Dutch government kicked off "Operation Beethoven" to do just that.

The Dutch government announced $2.7 billion in planned infrastructure upgrades in the Eindhoven region to prevent ASML from moving some of its operations overseas. ASML CFO Roger Dassen said in a recent statement: "As we have said before, ASML prefers to keep its core activities in the Netherlands as close as possible to the existing locations" in the neighboring town of Veldhoven, where ASML is headquartered.

He said that ASML views the availability of talent, infrastructure, housing, and a positive investment climate as preconditions for the investment. The new $2.7 billion in funding from the Dutch government is also helping this move along. A spokesperson for the city of Eindhoven, which is a growing technology hub, confirmed that the letter had been signed with a view of ASML's expansion at the Brainport Industries Campus.

ASML is the leader in what it creates: High-NA EUV lithography machines that are used by semiconductor companies like TSMC and Intel, to make the most advanced chips on the planet. Intel recently received its new near $400 million High-NA EUV lithography machine in the United States, which is being prepped for production right now.