ASML names former French finance minister Bruno Le Maire as adviser

Computer chip equipment maker ASML ASML.AS has appointed former French finance minister Bruno Le Maire as an adviser to the company’s executive board, a company spokesperson said on Thursday.

ASML is the biggest maker of equipment used by chip manufacturers, and the company said the appointment should be viewed as part of its efforts to strengthen Europe’s broader semiconductor industry.

“We believe that substantial investments in the European semiconductor ecosystem are necessary to strengthen its position in the global semiconductor value chain,” the ASML spokesperson said.

“We recognise this mission is to be accomplished in a dynamic geopolitical and economic environment and, therefore, seek high-level advice on a consistent basis.”

Le Maire will assume his role on Jan. 1, weeks before U.S. President-elect Donald Trump takes office. U.S. moves to limit ASML’s exports to China began under Trump in his first term and have been expanded, with Dutch government agreement, under President Joe Biden’s administration.

Le Maire, 55, left the French government in September. Last year, he helped attract U.S. chipmaker GlobalFoundries GFS.O to participate in a new plant being built by STMicroelectronics STMPA.PA in Crolles, France, with 2.9 billion euros in French state aid as part of Europe’s Chips Act.

Le Maire told reporters in Washington in April that Europe should “show its teeth” to better defend industrial and trade interest against Chinese products made with state subsidies.

Among the executives Le Maire will advise at ASML is new CEO Christophe Fouquet, a fellow Frenchman who took the top job in April.

ASML is no longer considering shifting significant operations outside the Netherlands, after the Dutch government promised to invest $2.7 billion in infrastructure in the Eindhoven region where the company is based.

On Wednesday, ASML and other companies said they will contribute $230 million to support that programme. Reuters