Russian chip manufacturer Angstrem-T went bankrupt

Founded in 2005, Angstrem-T, one of the largest high-tech development projects in Russia, was officially declared bankrupt.

The decision of the Moscow arbitration court was the result of a 10-month review of the application submitted by the creditor Angstrem-T, the state-owned corporation VEB.RF, which received full control of the enterprise at the end of December last year. The debt of Angstrem-T exceeds 100 billion rubles.

The bulk of the amount was received from VEB.RF in the form of a loan at 8.5% per annum for the construction of semiconductor production, designed to produce products at 110 and 130 nm. In the future, it was planned to purchase equipment necessary for the development of 65 nm standards.

Initially, it was expected that production would begin in 2010, but in fact, the first 90-nanometer microcircuits were ready only in 2016. The start of loan repayments was scheduled for 2014, but over the entire period of existence the company has not returned a single cent to the creditor. Since 2016, it has been under US sanctions, having lost access to more modern technologies, and the technical process mastered at Angstrem-T facilities was considered obsolete even at the time of the establishment of the enterprise, so production is simply impossible to load with orders.

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