Taiwan's TSMC says no plans for now to build factories in Europe

Taiwan Semiconductor Manufacturing Company (TSMC) President and Co-Chief Executive Officer Mark Liu attends an investors' conference in Taipei, Taiwan April 13, 2017. REUTERS/Tyrone Siu

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) said on Wednesday it has no concrete plans for factories in Europe - remarks that come amid efforts by the European Union to encourage Taiwanese firms to manufacture chips there.

With many industries suffering from a global shortage of semiconductors, Taiwan and the EU held high level trade talks last week with chip cooperation at the top of the agenda. In February, the EU unveiled the European Chips Act, with the bloc mentioning Taiwan as one of the "like-minded partners" Europe would like to work with.