ASML wants to expand in the Eindhoven region but has a Plan B if that fails

ASML would like to expand in Veldhoven and the Eindhoven region long term, said the company's financial director, Roger Dassen, at the shareholders' meeting. Investors association VEB asked whether the chip machine manufacturer had enough space to grow in Noord-Brabant or if they have a backup plan.

"Of course, we have a Plan B, but we want to expand here due to what Veldhoven and Eindhoven have to offer," Dassen answered. "The government also recognizes the circumstances we need to grow."

The chip machine manufacturer expects strong growth and has asked the government for guarantees that there will be enough space and possibilities for expansion.

The municipality of Eindhoven and ASML signed a letter of intent last Monday that should make expansion possible, resulting in around ten thousand jobs. "That letter of intent results from a long deliberation on our options. It shows that we want to expand here in the long term."

He warned that the expansion plans in the Eindhoven region will have no immediate effect. "We have Plan Bs to see where we can increase our capacity in the short term," Dassen said.

Departing CEO Peter Wennink has been critical of the worsening business climate in the Netherlands over the last few months. He said that plans to limit immigration for work or study will make it harder to attract highly skilled foreign staff.

There were also worries about inconsistent government policies, the housing market shortage, and the phasing out of the beneficial tax measures for expats.

After the message from ASML that they could also expand abroad, the Cabinet developed a plan under the name 'Operation Beethoven' to keep the tech company in the country. The outgoing Cabinet then cooperated with the Eindhoven region to produce a 2.5 billion euro package to improve the local business climate for the chip sector.