ASML Doesn’t Need More EUV-System Acquisitions, CFO Says
ASML Holding NV (ASML), Europe’s largest semiconductor-equipment supplier, plans to deliver more advanced chipmaking technology without additional purchases following its 1.95 billion-euro ($2.5 billion) deal to buy Cymer (CYMI) Inc.
“We don’t need anything,” Chief Financial Officer Peter Wennink said today in an interview at a conference organized by Morgan Stanley in Barcelona. “The main focus is on getting the Cymer deal done, making sure that from now on the execution is flawless and seamless, and we have no other plans.”
ASML’s proposed acquisition of Cymer, the Veldhoven, Netherlands-based manufacturer’s biggest takeover ever, is intended to speed up development of so-called extreme ultraviolet, or EUV, lithography. San Diego-based Cymer is a supplier of light sources used in ASML products.
EUV technology is important for the chipmaking industry to enable the production of smaller chips while increasing their capacity and speed for devices such as handsets and tablet computers. Customers Samsung Electronics Co. (005930), Intel Corp. (INTC) and Taiwan Semiconductor Manufacturing Co. (2330) have bought a combined 23 percent stake in ASML for 3.85 billion euros ($4.9 billion) to help fund EUV development.
ASML expects deliveries of the first 11 EUV systems in 2013 at customers for research and development, and additional orders for production systems in 2014. ASML has currently received four commitments and expects another four to eight within the next six months, Wennink reiterated today.
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