... supplier of chip-making machines like steppers and scanners. Based in Veldhoven, it handles R&D, assembly, and supports clients with 60 service centers across 14 countries. Founded as a joint venture of ASM International and Philips, ASML serves global clients, mostly in Asia (66% of 2011 revenue), the U.S. (25%), and Europe (9%). Its largest customer accounted for 25% of revenue. Zeiss, its main supplier of lenses, represents nearly 30% of ASML’s procurement costs. The two maintain a strategic alliance requiring a three-year notice for termination. ASML heavily invests in R&D.