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Electronics Production | February 22, 2005

Aid approved for Philips’s fire damaged wafer-fab

European Commission has approved the transfer of €33 million for use at Philips’s wafer-fab in Caen.

Philips's wafer fab in Caen got fire-damaged on Dec 12. This negatively affected the production of certain important components. The French authorities told the European Commission that the incident could cause that the jobs at the site were in danger. Now the EC has approved the aids. "I am happy to approve aid which promotes innovation and helps to create jobs, especially if it also supports the Commission's regional development policy," said Neelie Kroes, EU Competition Commissioner, in a statement.
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