STMicroelectronics Globalfoundries Join Forces in France STMicroelectronics (STM) and Globalfoundries (GFS) have joined forces to build a semiconductor chip manufacturing plant in France. Swiss-based STMicroelectronics is a multinational chipmaker, with France and Italy as its largest shareholders, with around 14% each. California-based Globalfoundries is an American semiconductor company that manufactures chips on contract. STM''s French Semiconductor Project STMicroelectronics and Globalfoundries are expected to invest €5.7 billion in their French semiconductor factory. The companies are hoping for financial support from the French government towards the project. The facility will produce chips for cars, Internet of Things (IoT) devices, and mobile applications.