STMicroelectronics (NYSE:STM) has announced plans to invest $60 million in its Tours plant in France, aiming to establish a pilot line for cutting-edge semiconductor manufacturing.
The Franco-Italian chipmaker said the investment will support the next phase of an advanced production process at the site. In recent months, the company has been relocating older chip production lines out of Tours as part of a broader restructuring program initiated last October.
“This initiative is focused on upgrading advanced manufacturing capabilities and redefining the roles of certain sites in France and Italy to ensure long-term success,” STMicroelectronics stated.
As one of Europe’s leading semiconductor producers, STMicroelectronics is pursuing a cost-cutting strategy after several years of market challenges. Job reductions at the Tours facility have faced resistance from unions and other stakeholders.
The Italian and French governments collectively hold a 27.5% stake in the company through a holding structure.
The pilot production line is expected to become operational in the third quarter of 2026.
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