Semiconductors

Staff at UK Chip Firm Prefer Dutch/Chinese Owners – Times

 

Staff at the Newport Wafer Fab, a semiconductor firm in Wales whose takeover last year by a Chinese-backed company is being reviewed by the British government on national security grounds, have sent a “strongly worded letter” to The Times in London about the company’s future, with the 582 workers saying they “fully support Nexperia and its [Chinese] ownership of our site” because it had provided stability, improved job security, wages and working conditions, a report by The Times said.

Newport’s previous owner is among groups that have expressed interest in buying the business, but employees said in their letter “we have absolutely no desire to work under a consortium under the stewardship of Drew Nelson, the previous owner”, alleging that the company was “a mismanaged, undercapitalized startup, struggling to compete even in a buoyant market”, the report said, adding that the government is expected to make a final decision on the 63-million-pound takeover by Nexperia, a Dutch firm owned by China’s Wingnut Technology, by October 3.

See the full report: The Times.

 

ALSO SEE:

US to Ban Export of Chips, Chipmaking Tools to China

 

US Orders Nvidia to Stop Sale of Advanced Chips to China

 

Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

Recent Posts

FTX Crypto Fraudster Bankman-Fried Jailed For 25 Years

A US District Judge said the former billionaire wunderkid was responsible for one of the…

11 hours ago

China’s Big 5 Lenders Warn of Property Risks as Margins Shrink

Banks have been reluctant to deepen their exposure to the ailing real estate sector but…

12 hours ago

Chinese Biotech Giant WuXi ‘Sent US Client’s Data to Beijing’

US intelligence officials say Chinese pharma companies are risking national security at a time when…

16 hours ago

China’s BYD Delays EV Factory; Solid-State Batteries ‘Unsafe’

BYD has set back plans for an EV factory in Vietnam, while CATL has said…

16 hours ago

Yellen: China’s Green Energy Push a Threat to Global Jobs – AP

US Treasury Secretary Janet Yellen has accused China of ‘distorting prices’ with its increased green…

17 hours ago

Yen Fears Drag on Nikkei, Hang Seng Lifted by Policy Bets

Japan’s plunging currency and the threat of BoJ intervention sent Tokyo’s soaraway benchmark downwards

18 hours ago