ASML will continue to operate in…

ASML, the Dutch chip maker, has signed a letter of intent to expand its business in the city of Eindhoven, with the intention of ending speculation about a possible move abroad.

The company explains that it has reached an agreement with the municipality on a possible expansion that will accommodate around 20,000 new employees in an underdeveloped area in the north of Eindhoven.

Monique Mols, a spokeswoman for the firm, explained to Bloomberg that the final decision on whether or not to proceed with the expansion depends on “some important points.”

The news comes a month after the Dutch government outlined plans to spend around 2.5 billion euros on the region’s infrastructure in a series of operations aimed at persuading ASML not to move its operations abroad.

Roger Dassen, CFO, explains in the letter that ASML prefers to keep its main operations in the Netherlands and as close as possible to its existing locations. Its headquarters are in the nearby town of Veldhoven.

Dasen welcomes the government’s investment pledge, noting that he also sees talent availability, infrastructure and a positive investment climate as key factors.

ASML is the largest company in the Netherlands and one of the leading European technology firms. Signature recently hit the headlinesbecause the Dutch government, due to pressure from the US, withdrew an export license covering the supply of certain types of equipment to China.

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