financetom
Business
financetom
/
Business
/
ASML needs licence to service some equipment in China, Dutch government says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
ASML needs licence to service some equipment in China, Dutch government says
Sep 11, 2024 12:17 AM

AMSTERDAM (Reuters) -The Dutch government on Tuesday clarified that ASML needs a licence to provide spare parts and software updates for computer chipmaking equipment it has previously sold to Chinese customers that now falls under export restrictions.

That includes the two additional tools that the Dutch government added to its national control list on Friday in a move to coordinate policy with the United States, according to a statement provided to Reuters by the Foreign Ministry.

The clarification follows confusion over whether the Dutch government is planning additional servicing restrictions on ASML, Europe's largest technology firm, which the ministry indicated is not the case.

"Servicing...is vetted under the licensing requirement (and includes)...parts, software and technology developed specially for this equipment," the ministry said in a statement.

"As of Sept. 6, 2024 this licensing obligation is expanded" to include ASML's 1980di and 1970di machines, it added.

ASML, which said on Friday it did not expect the change to impact its earnings, declined to comment.

Friday's move prompted a protest from the Chinese government against U.S.-led export controls and a call to protect "common interests" of Chinese and Dutch firms.

ASML dominates the market for lithography tools, essential to chipmakers for creating the circuitry of chips.

After an initial round of Dutch restrictions in 2023, the company instructed its customers in China - its third-largest market after Taiwan and South Korea - not to expect licences to import its most advanced DUV tools after Jan. 1, 2024.

The Dutch government cooperates and aligns closely with the United States on export policy, with Chinese support for Russia in the Ukraine war an important security concern.

ASML CEO Christophe Fouquet said at an event in New York on Sept. 4 that he expects the U.S. government to continue pushing for additional restrictions on the company's exports to China.

"That is a bipartisan issue so I think whatever happens in November this will stay," he said, referring to the U.S. presidential election.

He added that he expects pushback from the Dutch government against additional U.S. restrictions, which he said are increasingly motivated by economic rather than security considerations.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
China's BYD slows down plans for EV factory in Vietnam, industrial park says
China's BYD slows down plans for EV factory in Vietnam, industrial park says
Mar 27, 2024
HANOI (Reuters) - Chinese electric vehicles maker BYD has slowed down its plans to build an EV factory in Vietnam, a manager of the industrial park where the plant would be built told a shareholders meeting on Thursday. Vietnam's government said in May that BYD had decided to build a factory to manufacture and assemble electric cars in the northern...
UBS reports 14.4 million Swiss francs for CEO Ermotti in 2023
UBS reports 14.4 million Swiss francs for CEO Ermotti in 2023
Mar 27, 2024
ZURICH (Reuters) -UBS on Thursday said its CEO Sergio Ermotti picked up 14.4 million Swiss francs in 2023 after taking over the Swiss bank's helm for a second bout following its takeover of former rival Credit Suisse last March. Overall, UBS executives picked up compensation of 140.3 million Swiss francs in 2023, a large leap from 106.9 million francs in...
UBS looks to keep, grow shipping loans in post-merger green overhaul
UBS looks to keep, grow shipping loans in post-merger green overhaul
Mar 27, 2024
LONDON (Reuters) - UBS will look to increase lending to the shipping sector and run off some loans to fossil fuel clients inherited from Credit Suisse, executives told Reuters, in the biggest test yet of the impact of a mega-merger on banks' sustainability commitments. The shotgun marriage of Switzerland's two biggest lenders last year kick-started a complex integration process including...
UBS: lessons drawn from Credit Suisse case could spark tougher regulation
UBS: lessons drawn from Credit Suisse case could spark tougher regulation
Mar 27, 2024
ZURICH, March 28 (Reuters) - UBS on Thursday said findings drawn up by bodies in Switzerland looking into the 2023 collapse of Credit Suisse could result in more stringent regulation in future. UBS, which acquired its smaller rival Credit Suisse last year, made the observations in its latest annual report. (Writing by Andrey Sychev Editing by Dave Graham) ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved