Intel Ireland's parent company – the giant U.S. based Intel microprocessor business – is a public company trading on the NASDAQ exchange. Intel decided in 1989 to build its European manufacturing operations in Leixlip, County Kildare, and formed Intel Ireland to be the holding company. The manufacturing plant manufactured its first chip in 1993. To base its European operations in Ireland, Intel received over IRE£87m in grants from IDA Ireland.