AMSTERDAM – On Wednesday, a group of Dutch technology firms including computer chip equipment maker ASML (NASDAQ: ASML) said it will contribute around $230 million to developing infrastructure in the Eindhoven area of the Netherlands.
The move is tied to “Operation Beethoven,” a plan announced in March by the Dutch government to spend 2.5 billion euros ($2.7 billion) to improve housing, transportation, education, and electricity in the region, one of Europe’s fastest-growing technology hubs.
Money in the corporate fund will be used to support Operation Beethoven projects, regional development agency Brainport said.
VDL Groep, a manufacturing conglomerate that is a key supplier to ASML, said the company viewed participation as a growth investment.
“What is good for the region is good for the companies, and vice versa,” said VDL’s chief executive, Willem van der Leegte, in a statement.
Other participating companies include chipmaker NXP Semiconductors (NASDAQ: NXPI) and health tech firm Philips.
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Jennifer Tacker is a staff writer at ABBO News. She holds a B.A. from the University of Waterloo and a B.Ed from Western University. Jennifer has been active in the stock market and crypto sector for a decade. She specializes in technical analysis and trading strategies. Read Full Bio
