Chipmaking firm Nexperia will be taking a $60 million loan from Dutch financial solutions firm Invest International, as per an official announcement on Monday.
“The Netherlands plays a central role in the global semiconductor value chain, with high‑tech manufacturing contributing significantly to economic strength, skilled employment and technological innovation,” read the official statement.
“By financing Nexperia’s expansion, Invest International is supporting a Dutch-headquartered company operating in one of the world’s most strategically important industries,”
Nexperia is a privately held firm, and the money raised from the loan agreement will be used to fund its capital expenditures, improved output, updated production methods, and operational efficiency.
Once a part of Dutch MNC Philips, Nexperia is the result of a spinoff of semiconductor company NXP’s standard products division in 2017. NXP was also a spinoff of Philips’ semiconductor division. Unlike Nexperia’s private status, NXP is a publicly traded entity.