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Nexperia must sell at least 86% of Newport Wafer Fab,

Friday, November 18, 2022

Nexperia must sell at least 86% of Newport Wafer Fab, says the government following a national security review.

“We welcome foreign trade and investment that supports growth and jobs. But where we identify a risk to national security we will act decisively,” said Business Minister Grant Shapps.NewportWaferFab

The government said there was a national security risk related to compound semiconductor technology activities at the site, and the potential for those activities to undermine British capabilities.

The location of the site could also facilitate access to technological expertise in the South Wales area and prevent that area being engaged in future projects relevant to national security, the order said.

experia said it did not accept the national security concerns raised and that two previous security reviews had found no national security concerns that would give reason to block the acquisition.

“We are genuinely shocked. The decision is wrong, and we will appeal to overturn this divestment order,” said Nexperia’s UK country manager, Toni Versluijs.

The government said Nexperia took its shareholding in Newport Wafer fab to 100% in July 2021 when it gained an additional 86% of the company’s share capital.

“The Secretary of State considers that the final order is necessary and proportionate to mitigate the risk to national security,” the order said

By: DocMemory
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