On December 8, 1994, the company completed its initial public offering on the Paris and New York stock exchanges. Owner Thomson SA sold its stake in the company in 1998 when the company also listed on the Italian Bourse in Milan. In 2002, Motorola and TSMC joined ST and Philips in a new technology partnership. The Crolles 2 Alliance was created with a new 12" wafer manufacturing facility located in Crolles, France. By 2005, ST was ranked fifth, behind Intel, Samsung, Texas Instruments and Toshiba, but ahead of Infineon, Renesas, NEC, NXP Semiconductors, and Freescale. The company was the largest European semiconductors supplier, ahead of Infineon and NXP.