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ASM International

ASM International N.V. (commonly referred to as ASM) is a Dutch multinational corporation that designs, manufactures, and services semiconductor process equipment for wafer fabrication. The company specializes in advanced deposition technologies, including atomic layer deposition (ALD), epitaxy, and chemical vapor deposition (CVD), enabling the production of smaller, more efficient chips for applications in electronics, automotive, and computing. It serves leading semiconductor manufacturers worldwide and supports the fabrication of over 1.1 trillion chips annually.^[1]^[2] Founded in 1968 by Arthur del Prado as Advanced Semiconductor Materials in the Netherlands, ASM International is headquartered in Almere and listed on Euronext Amsterdam (AEX index). As of 2025, it employs more than 4,600 people across 15 key locations in over 69 nationalities, with primary manufacturing in Singapore and R&D centers in the United States, Europe, and Asia. The company emphasizes innovation in materials engineering for next-generation semiconductors, including silicon carbide for electric vehicles and high-mobility devices.^[3]^[4] In 2024, ASM International reported net sales of €2.94 billion (US$3.17 billion), a 11% increase from the previous year, driven by demand for ALD and epitaxy tools. As of November 2025, its market capitalization stands at approximately €29 billion (US$31.7 billion). Current leadership includes CEO Hichem M'Saad (since May 2024) and CFO Paul Verhagen.^[5]^[6]

Company Profile

Overview

ASM International N.V. is a Dutch-headquartered multinational corporation that designs, manufactures, sells, and services wafer processing equipment primarily for thin-film deposition in semiconductor manufacturing.^[3] The company specializes in advanced deposition technologies essential for producing integrated circuits (ICs), with a core focus on atomic layer deposition (ALD) and epitaxy processes that enable precise control at the atomic scale.^[4] These tools are supplied to leading semiconductor manufacturers worldwide, supporting the fabrication of smaller, more efficient chips critical to modern electronics.^[4] ASM's mission is to enable the development of next-generation microchips that power transformative applications, including artificial intelligence (AI), next-generation healthcare, cloud computing, and energy-efficient devices.^[4] By shaping materials at the nanoscale, the company contributes to advancements in performance, power efficiency, and functionality in semiconductor devices, addressing the growing demands of the digital economy.^[4] With over 50 years of innovation since its founding in 1968, ASM employs more than 4,600 people across diverse nationalities as of 2024 and maintains leadership in atomic-scale technologies through a robust intellectual property portfolio of approximately 3,400 patents in force as of 2024.^[3]^[7]^[8] This foundation underscores its role as a key enabler in the semiconductor industry's evolution toward more advanced and sustainable computing solutions.^[4]

Leadership

ASM International's leadership is structured under a two-tier board system typical of Dutch corporations, consisting of a Management Board responsible for day-to-day operations and strategy execution, and a Supervisory Board that oversees the Management Board and provides guidance on long-term direction.^[9] The current Chair of the Management Board and Chief Executive Officer is Hichem M'Saad, appointed on May 13, 2024.^[10] M'Saad joined ASM in 2015 as Senior Vice President and General Manager of the Thermal Products business unit, advanced to Executive Vice President and General Manager of Global Products in 2019, and served as Chief Technology Officer and Management Board member from 2022 until his CEO appointment.^[11] Prior to ASM, he held senior roles at Applied Materials, including process engineering and corporate vice presidencies in dielectric systems and chemical mechanical planarization (CMP), with a focus on semiconductor research and development; he also served as CEO of a solar photovoltaic startup.^[11] M'Saad holds a BS from the Colorado School of Mines, an MS from Cornell University, and a PhD in Materials Science from MIT.^[11] Historically, ASM's CEO role has seen transitions reflecting family legacy and external expertise. Founder Arthur del Prado served as CEO from the company's inception in 1968 until 2008.^[3] His son, Chuck del Prado, succeeded him as CEO, Management Board Chair, and President effective March 1, 2008, serving until 2020, following a retirement announcement in 2019.^[12] Benjamin Loh was appointed CEO, President, and Management Board Chair in 2020, serving until his retirement on May 13, 2024.^[13]^[10] The Management Board currently comprises two members: Hichem M'Saad as CEO and Paul Verhagen as Chief Financial Officer, appointed June 1, 2021, and reappointed until 2027.^[9] Verhagen brings extensive finance experience from roles at Royal Philips and Fugro N.V.^[11] The broader Executive Committee supports the Management Board, including key roles such as Senior Vice President of Global Operations (Hakan Erdemir) and Chief People Officer (Edyta Jakubek).^[9] The Supervisory Board, which supervises the Management Board and advises on strategic matters, is chaired by Pauline van der Meer Mohr, appointed in 2021 and reappointed as Chair in 2024.^[14] Other members include Martin van den Brink (former CTO of ASML), Marc de Jong, Stefanie Kahle-Galonske, Didier Lamouche, Tania Micki, and Adalio Sanchez, selected for their expertise in technology, finance, and governance to ensure independent oversight.^[9] The board operates through committees, including Audit (chaired by van der Meer Mohr), Compensation, Nominating, and Finance, to address specific governance areas.^[9] ASM's governance practices emphasize ethical standards, transparency, and alignment with stakeholder interests, as outlined in its corporate governance principles.^[15] Central to this are the company's core values—We Innovate, We Deliver, We Care—which guide leadership decisions, foster a culture of innovation in semiconductor technologies, ensure reliable product delivery, and prioritize employee and community well-being.^[16] These values underpin the governance framework, promoting sustainable growth and accountability.^[17]

Technologies

Research and Development

ASM International invests significantly in research and development to advance semiconductor deposition technologies, with annual R&D expenditure reaching €151 million in 2021, representing 9% of that year's revenue.^[18] This investment has shown sustained growth, maintaining levels around 10-12% of revenue through 2024 as of 2024, as the company allocated €369.8 million in 2024 amid expanding market demands for advanced materials processing.^[19]^[20] In 2025, adjusted net R&D spending continued to increase, up 35% year-over-year in Q1.^[21] The company's R&D operations are supported by dedicated centers in Almere, Netherlands; Helsinki, Finland; Leuven, Belgium; Phoenix, USA; Tama, Japan; and Dongtan, South Korea, enabling localized innovation across key global semiconductor hubs.^[22] Approximately 25% of ASM International's workforce is devoted to R&D activities, fostering expertise in thin-film deposition and process optimization.^[23] Key focus areas include the development of novel materials for chip manufacturing, enhancements in atomic layer deposition (ALD) and epitaxy processes to achieve greater uniformity and scalability, and expansion of the patent portfolio, with 2,953 patents actively in force worldwide as of 2023 (reaching approximately 3,400 by 2024).^[24]^[7] These efforts prioritize atomic-scale precision essential for next-generation transistors and memory devices.^[25] Innovation is driven by strategic collaborations with leading semiconductor manufacturers and research institutes, allowing ASM International to co-develop solutions tailored to evolving industry needs in advanced logic and memory fabrication.^[24] Such partnerships have accelerated the integration of R&D outcomes into production tools for ALD applications.^[26]

Products

ASM International specializes in advanced wafer processing equipment for thin-film deposition, primarily serving the semiconductor industry. Its product portfolio focuses on atomic layer deposition (ALD), epitaxy, and other chemical vapor deposition (CVD) tools designed for high-precision applications in logic, memory, and power devices. These tools enable the fabrication of nanoscale structures essential for advanced nodes, including those used in electric vehicles through silicon carbide (SiC) processing.^[2]

Atomic Layer Deposition (ALD) Tools

ASM's ALD tools provide atomic-scale control for conformal thin films, critical for high-k dielectrics, gate stacks, and interconnects in advanced CMOS devices. The Synergis platform is a modular thermal ALD system configurable with up to four dual chamber modules (DCMs) for eight chambers total, offering a compact footprint and high productivity for a wide range of thermal ALD processes in semiconductor manufacturing. The Pulsar XP4 utilizes an advanced AXIS reactor for depositing high-k dielectric materials, supporting applications in advanced CMOS transistor high-k metal gates. For batch processing, the EmerALD XP4 serves as a process module for thin conformal metal and dielectric layers via ALD, targeting advanced CMOS gate stacks. Advanced platforms include the Eagle XP8 PEALD, a high-productivity 300mm plasma-enhanced ALD tool with up to four DCMs for eight chambers, and the XP8 QCM PEALD, optimized for dielectric processes like silicon oxide and nitride in logic and memory at advanced nodes.

Epitaxy Tools

Epitaxy tools from ASM deposit highly controlled crystalline silicon-based films, enabling strained silicon for enhanced transistor performance and memory structures. The Intrepid ES is a 300mm single-wafer epitaxy system featuring an isothermal reactor with closed-loop control and up to four process modules on the XP cluster platform, supporting thick epitaxial deposition in a single pass for CMOS transistor channel layers (epitaxial silicon, silicon germanium), source/drain regions, 3D-NAND, DRAM, and analog/power devices.^[27] The Epsilon 2000 is a reduced-pressure epitaxy tool for 150mm and 200mm wafers, using integrated lamp heating and a patented Bernoulli wand for non-contact transfer, achieving high deposition rates at low temperatures with Silcore precursors for selective/non-selective doped silicon layers in transistors, wafer manufacturing, analog mixed-signal, bipolar, BiCMOS, and deep trench fill for power devices.^[28] These tools also support SiC epitaxy for power applications in electric vehicles.^[25]

Other Deposition Tools

ASM offers complementary CVD tools for dielectric films and thermal processes, enhancing throughput in semiconductor fabrication. The Dragon XP8 is a high-productivity 300mm PECVD system configurable with up to four DCMs for eight chambers, featuring low-volume chambers for efficient gas use and applications including interlayer dielectrics (TEOS-SiO, SiH4-SiO), passivation (SiN), anti-reflective layers (SiN, SiON), etch stops (SiN), through-silicon via films (SiO, SiN), and 3D memory stack dielectrics.^[29] For batch processing, the A400 DUO vertical furnace handles 200mm and smaller wafers with dual reactors and boats, supporting LPCVD for polysilicon (undoped/in-situ doped), silicon nitride, silicon oxide (TEOS), diffusion, oxidation, annealing, and batch ALD for metal oxides/nitrides and SiO/SiN in power, analog, RF, and MEMS devices.^[30] The Sonora is a 300mm vertical furnace with dual reactors and up to 150-wafer batches, delivering 30% higher productivity than predecessors through innovative gas injection for uniformity, used for LPCVD (polysilicon, silicon nitride, silicon oxide), atmospheric diffusion, dopant activation, annealing, oxidation, and batch ALD in logic, foundry, memory, and analog/power applications.^[31] These tools collectively address thin-film deposition needs for advanced nodes, prioritizing low cost of ownership and repeatability.^[32]

History

Founding and Early Years

ASM International was founded on October 4, 1913, as The Steel Treaters Club in Detroit, Michigan, by William Park Woodside, to provide a forum for sharing knowledge on heat-treating steel amid industrial growth.^[33] During World War I, it evolved into the Steel Treating Research Society, with membership reaching 1,250 by 1918.^[33] In 1919, a Chicago faction formed the American Steel Treaters Society, leading to reunification in September 1920 as the American Society for Steel Treating (ASST), with around 2,750 members and 27 chapters.^[33] The first official meeting and Metal Show occurred in Philadelphia in 1920. In 1921, Col. Albert E. White became president, and the society launched its Transactions publication.^[33] The first data sheets were published in 1923, forming the basis for the ASM Handbook series.^[33] In 1933, the organization broadened its scope to all metals and renamed itself the American Society for Metals (ASM).^[33] William Hunt Eisenman served as national secretary from 1921 to 1958. By the 1950s, ASM had established the Materials Education Foundation in 1952 and the Metals Engineering Institute (now ASM Education) in 1954.^[33]

Expansion and Innovations

ASM hosted the World Metallurgical Congress in 1951, attracting 510 delegates from 39 countries, and relocated its headquarters to Metals Park (now Materials Park), Ohio, in 1959, with Allan Ray Putnam as the first managing director.^[33] The society launched Metal Progress magazine in 1930 and expanded the ASM Handbook into a multi-volume series by 1976. Annual Metal Shows ran from 1920 to 1973, followed by specialized events like the ASM Heat Treating Conference in 1974 and Metals Week in 1981.^[33] In 1986, reflecting its focus on engineered materials such as composites, ceramics, polymers, and electronic materials, along with global outreach, the organization rebranded as ASM International; Edward L. Langer served as managing director from 1985 to 1996.^[33] The 75th anniversary in 1988 featured the World Materials Congress with 12,000 participants. Subsequent leaders included Dr. Michael J. DeHaemer (1996), Stanley C. Theobald (2002), and Thomas S. Passek (2012).^[33] The centennial in 2013 included the launch of the Cleveland Memory Project. In 1999, the ASM Handbook became available on CD-ROMs, and a $3 million Training Center opened. Recent innovations include Materials Camp programs since the 2000s through the ASM Materials Education Foundation, partnerships like MS&T, and the Global Community Information Network in the 2010s. A renovation of Materials Park followed the 2013 centennial. As of 2023, strategic priorities emphasize digital transformation, interdisciplinary growth, globalization, and diversity, equity, and inclusion.^[33]^[34]

Operations

Global Presence

ASM International employs over 4,600 people representing more than 69 nationalities, fostering a diverse workforce across its global operations.^[4] This multinational composition underscores the company's commitment to inclusion and belonging, which it promotes through policies that value diverse perspectives to drive innovation, collaboration, and creativity.^[35] The company's headquarters is located in Almere, Netherlands, with major sites in the United States (Phoenix, Arizona), Japan (Tama), South Korea (Dongtan), Finland (Helsinki), Belgium (Leuven), Singapore as a key manufacturing hub, and China.^[36]^[37] These locations support a network of subsidiaries, including ASM Korea Ltd., ASM Front-End Taiwan, ASM China Ltd., and ASM Front-End Mfg (S) Ltd. in Singapore, enabling efficient regional operations.^[38] ASM International maintains sales and service operations across Europe, the Asia-Pacific region, and the Americas, primarily serving leading semiconductor manufacturers such as TSMC, Intel, and Samsung.^[39] This global footprint facilitates close collaboration with these chipmakers to deliver advanced deposition equipment tailored to their needs. At the core of ASM International's global operations is a culture emphasizing innovation, delivery, and care, which guides employee interactions and promotes global teamwork and respect for diverse backgrounds.^[16] This values-driven approach enhances cross-cultural collaboration, ensuring the company remains agile in serving its international customer base.^[17]

Facilities and Manufacturing

ASM International's manufacturing operations are centralized at its primary hub in Singapore, where the company assembles and tests advanced deposition tools, including those for atomic layer deposition (ALD) and epitaxy (Epi) processes essential to semiconductor production.^[40] This facility, which achieved Green Mark Gold Plus certification for its energy-efficient design, quadrupled its capacity upon completion of a second-floor expansion in early 2023, enhancing global production flexibility to meet rising demand for leading-edge semiconductors.^[40] In addition to Singapore, ASM maintains R&D-linked production facilities at key sites worldwide. The Phoenix, Arizona, location (including the expanded Scottsdale headquarters) supports pilot manufacturing and engineering for epitaxy tools, with a €300 million investment over five years more than doubling the facility's footprint to 250,000 square feet and focusing on thin-film deposition innovations.^[41] In Tama, Japan, operations emphasize process development and production tied to ALD technologies, contributing to advancements in plasma-enhanced chemical vapor deposition (PECVD) and related thin-film applications.^[42] The Dongtan site in South Korea serves as a regional manufacturing and innovation center, bolstered by a $100 million multi-year expansion to support local production needs and R&D collaboration.^[43] ASM's supply chain prioritizes high-precision components designed for cleanroom environments, ensuring reliability in semiconductor fabrication.^[44] The company integrates sustainability into its manufacturing practices, such as developing high-efficiency components and compact system designs that reduce cleanroom footprints and resource consumption, aligning with its 2021-announced net-zero emissions ambition by 2035 and intermediate targets like the achievement of 100% renewable electricity across operations in 2024.^[45]^[44] To support customer operations, ASM operates a global service network that handles tool installation, maintenance, and spare parts provisioning, maximizing uptime in fabrication plants (fabs) through rapid response and cost-effective solutions.^[46] This network leverages the company's 15 key locations and over 4,600 employees to deliver worldwide support for deposition equipment reliability.^[4]

Financial Performance

ASM International operates as a non-profit 501(c)(3) organization, and its financial performance is reported through annual financial statements and IRS Form 990 filings, focusing on revenue from membership dues, publication sales, conference registrations, and educational programs, rather than commercial product sales or stock performance. Detailed public financial disclosures are limited compared to for-profit entities.

Revenues and Earnings

The society's primary revenue sources include membership fees (approximately 20,000 members), sales of ASM Handbooks and journals, and proceeds from conferences and training programs. As of fiscal year 2023 (latest detailed public data available), total revenue was approximately $28.5 million, with expenses of $27.2 million, resulting in a modest surplus supporting ongoing operations and scholarships.^[34] In early 2025, ASM leadership reported that year-to-date financial performance was surpassing expectations, emphasizing stability amid strategic investments in digital transformation and global outreach.^[47] Specific 2024-2025 figures are not publicly detailed as of November 16, 2025, but the organization maintains a strong balance sheet with net assets exceeding $100 million, funding initiatives like the Materials Education Foundation scholarships (over $2.4 million awarded since 2000). No traditional "earnings" metric applies, as surpluses are reinvested into educational and community programs rather than distributed to shareholders.

Market Capitalization and Stock Performance

As a non-profit membership organization, ASM International is not publicly traded and has no market capitalization or stock performance. It is governed by a volunteer board and funded through member contributions and program revenues, with accountability to its membership base across 30+ countries.

References

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Home - ASM International
### Summary of ASM International
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### Summary of ASM International Overview and Strategic Plan (2023)
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History of ASM - ASM International
### Summary of ASM International History
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Our story - ASM
ASM (Advanced Semiconductor Materials) was founded in the Netherlands in 1968, at the very start of the semiconductor industry.
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Our company - ASM
ASM supplies wafer processing equipment to the leading semiconductor manufacturers, mostly for the deposition of thin films. Find out more about us.Our story · Mission & purpose · Strategy
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Our technology & products | ASM
... ASMers work in R&D. 3390+ patents in force. 7 R&D centers. Technology and products. We have a proven track record of innovation, spanning a wide range of ...ALD (Atomic Layer Deposition) · Epitaxy · Pecvd · Silicon carbide<|control11|><|separator|>
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Composition ; Hichem M'Saad, CEO, US and Tunisian ; Paul Verhagen, CFO, Dutch ; Hakan Erdemir, Senior Vice President Global Operations, US and Turkish ; Edyta ...Management Board · Executive Committee · Committees' Structure And...
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asm international nv announces the retirement of ceo chuck del prado
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ASM INTERNATIONAL N.V. ANNOUNCES NEW CEO (2004465)
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The Supervisory Board supervises and advises the Management Board and Executive Committee. Explore their bios and skills and expertise matrix here.Pauline Van Der Meer Mohr... · Martin Van Den Brink... · Marc De Jong - Member Of The...
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ASM aspires to high standards of ethical practices and sound corporate governance, a key component of our culture, behavior, and management. Find out more.
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ASM International's r&d expenses increased in each of the last 5 fiscal years from 139 million in 2020 to 369.8 million in 2024. Metric Usage: R&D Expenses.Missing: expenditure | Show results with:expenditure
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The company has R&D offices in Almere (Netherlands), Helsinki (Finland), Leuven (Belgium),Phoenix (Arizona), Tama (Japan), and Dongtan (South Korea).
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Sep 28, 2021 · R&D site. Customer. R&D partner. • €172 million gross R&D spending (13% intensity). • 613 permanent R&D employees, 26 nationalities. • of which ...
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As a global company with R&D centers in seven countries, we have the advantage of R&D taking place not at one central site but on different continents around ...
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Epitaxy (or Epi) is the process of depositing highly controlled silicon-based crystalline films. Find out how this process works and what makes it crucial.
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We are a focused deposition equipment provider in the semiconductor wafer fab equipment (WFE) market. Our principal technologies are ALD and epitaxy.
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Intrepid® ES™ Epitaxy - ASM
The Intrepid® ES™ is our most advanced epitaxy deposition tool for the most critical 300mm applications for advanced transistors and memories. Read on.
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Epsilon® 2000 Epitaxy - ASM
Our Epsilon® 2000 single-wafer epitaxy tool offers a wide variety of epitaxy applications for 150mm and 200mm wafers. Find out more about it.
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Dragon ® XP8 PECVD - ASM
Dragon XP8 is a high productivity PECVD tool that addresses a broad range of dielectric films for various low-temperature deposition applications.
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A400® DUO vertical furnace - ASM
A400 DUO is a batch vertical furnace for 200mm and smaller wafers, and focuses on applications in the markets for power, analog, RF, and MEMS devices.
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SONORA® 300mm vertical furnace - ASM
SONORA® is a 300mm batch vertical furnace for logic/foundry and memory applications, as well as 300mm analog/power. Read about it and its applications.
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ALD (Atomic Layer Deposition) | ASM
### Summary of ALD Products from ASM
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We are building a new North American headquarters to house our largest R&D center in the world. 975+ employees in Arizona. 49+ years in Arizona.
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Want to learn what it's like to work at ASM? ... Visit our career website. Go to careers.
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Following a 20% decline over last year, recent gains may please ...
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