Dutch firm ASML Holding N.V. has extended its contract to supply lower-tech chipmaking machines to Semiconductor Manufacturing International Corp. through year-end, providing a lifeline for the leading Chinese firm that has been hobbled by US sanctions, reported Caixin.
The Chinese company, also known as SMIC, told the Hong Kong Stock Exchange on Wednesday that it has agreed to buy $1.2 billion worth of ASML equipment between March 2020 and March 2021.
It was able to do that after amending a previous long-term supply deal with ASML that expired at the end of last year, extending the deal by a year. Those moves seemed to indicate the pair intend to continue doing business despite reported earlier US efforts to cut off such sales, said Caixin.
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