Thu Sep 12 08:36:00 UTC 2024: ## Polymatech Partners with ECM Group to Establish Semiconductor Joint Venture in France
**GRENOBLE, FRANCE – September 12, 2024** – Polymatech, a multinational semiconductor manufacturer, today announced the signing of a Memorandum of Understanding (MoU) with ECM Group, a leading provider of advanced microelectronics and semiconductor technologies, to establish a joint venture company in Grenoble, France.
The new venture, set to begin operations in January 2026, will focus on producing sapphire ingots and wafers, essential materials for advanced semiconductor devices. The facility, located in Grenoble, dubbed the “Silicon Valley of Europe,” will serve as Polymatech’s high-volume production hub for sapphire wafers.
This joint venture marks Polymatech’s second Semiconductor Co-Investment Program, reflecting the company’s commitment to accelerating growth within the industry. The collaboration aims to expand Polymatech’s global manufacturing footprint while strengthening its financial position.
The joint venture will be funded with an initial €100 million investment, with Polymatech holding the majority stake. Polymatech will purchase wafers from the joint venture on a cost-plus-margin basis for both internal use and external customers, ensuring a steady supply of high-quality materials.
“This agreement with ECM Group provides us with additional flexibility to execute our strategy as we invest in creating the world’s most resilient and sustainable semiconductor supply chain,” said Eswara Rao Nandam, CEO of Polymatech. “Our investments in cutting-edge manufacturing capacity in both the U.S. and Europe are vital to meet the rising demand for sapphire, silicon, and silicon carbide materials, as the global semiconductor market is expected to double in size over the next five years.”
Laurent Pélissier, Founding President and CEO of ECM Group, added, “We are excited to enter this strategic partnership with Polymatech. This joint venture highlights ECM Group’s expertise in innovating and delivering state-of-the-art crystal growth equipment for high-quality semiconductor wafer production.”
The joint venture is expected to generate significant economic benefits for both companies and the region, contributing to the growth of the European semiconductor industry.
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