China in Newport Wafer Fab stealth grab

China in Newport Wafer Fab stealth grab

Nexperia, the NXP standard products unit which, in 2016, was sold to Chinese financial companies  – Jianguang Asset Management and Wise Road Capital – has appointed two directors to the Newport Wafer Fab board after a contract dispute.

In December 2029, WingtechTechnology – a Shanghai computer and telecom equipment manufacturer – obtained a controlling stake in Nexperia from Jianguang.

Nexperia which is still headquartered in the Netherlands, said: “Nexperia is the second largest shareholder in Newport Wafer Fab since 2019 and has contractual rights to appoint board members in defined circumstances. Since these circumstances have arisen, Nexperia has exercised these rights.”

“We are aware of the potential takeover of Newport Wafer Fab (NWF) by Nexperia, and the Government has been in close contact with NWF throughout,” says a UK government statement, “the UK Government does not consider it appropriate to intervene at the current time, but continues to monitor the situation closely, and will not hesitate to use our powers should the situation change.”