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Press Release from 2024-02-08 / KfW IPEX-Bank

KfW IPEX-Bank finances research and development projects for semiconductor manufacturer AT&S

View from above of a semiconductor production plant

KfW IPEX-Bank is supporting research and development by Austrian semiconductor manufacturer AT&S with a loan amounting to EUR 45 million.

The microelectronics specialist AT&S (Austria Technologie & Systemtechnik AG) is a leading global manufacturer of high-quality IC substrates and printed circuit boards as well as a developer of pioneering interconnect technologies for the chip industry. The loan from KfW IPEX-Bank will support the research and development of connecting materials for microchip production at AT&S' headquarters in Leoben (Styria, Austria). Its customers include not only the leading smartphone manufacturers, but also global technology leaders in the semiconductor sector such as AMD. AT&S products are used in high-performance computers, servers, AI and 5G base stations, among other areas.

With this financing, KfW IPEX-Bank is supporting a project in the European Community’s interest and contributing to achieving the EU’s target of increasing its global market share in semiconductor production to 20% by 2030. This objective is to be achieved through the significant mobilisation of private capital in addition to promotional funds.

“We are proud we can contribute to Europe’s digital sovereignty through our financing,” says Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. “We are especially delighted that, with AT&S, we are supporting the only European manufacturer of high-end printed circuit boards and integrated circuit substrates, thereby helping to advance digitalisation and innovation in Europe.”

"AT&S has been expanding for years. We have significantly expanded our production capacities in Chongqing, China, we have set up a plant for cutting-edge IC substrate technologies in Kulim, Malaysia, and are currently building such a plant with an R&D centre at our site in Leoben - a project that is unique in Europe! It is important to have strong partners who believe in our vision and who enable us to secure the current and future development of our company and invest in locations and new technologies," says AT&S CEO Andreas Gerstenmayer.

About AT & S Austria Technologie & Systemtechnik Aktiengesellschaft – Advanced Technologies & Solutions
AT&S is a leading global manufacturer of high-quality IC substrates and printed circuit boards as well as a developer of pioneering interconnect technologies for the core areas of mobile devices, automotive & aerospace, industrial, medical and high-performance processors for VR and AI applications. AT&S has a global presence with production sites in Austria (Leoben, Fehring) and plants in India (Nanjangud), China (Shanghai, Chongqing) and Korea (Ansan near Seoul). A new high-end production facility for IC substrates is currently being ramped up in Kulim, Malaysia. A European competence centre with connected series production for IC substrate technologies is being built in Leoben. Both sites will start production in the financial year 2024/25. The company employs more than 14,000 people.

About KfW IPEX-Bank
Within KfW Group, KfW IPEX-Bank is responsible for project and export finance. It supports German and European companies operating in key industrial sectors in global markets by structuring medium and long-term financing for their exports, funding infrastructure investments, securing supply of raw materials and by financing environmental and climate change mitigation projects worldwide.

As a bank that stands for transformation, it finances technologies of the future to support the transition towards sustainable society in all three dimensions of the economy, environment and social.

As specialist bank, KfW IPEX-Bank has extensive industry, structuring and country expertise, it takes on leading roles in financing consortia and actively involves other banks, institutional investors and insurance firms. KfW IPEX-Bank operates as a legally independent group subsidiary and is represented in the most important economic and financial centres across the globe.

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