China’s Wingtech Warns Newport Wafer Fab Deal Is At Risk

Shanghai-headquartered Wingtech Technologies has given a warning to their shareholders in a note this week. They are saying that the “domestic and foreign industry policies” are at a high risk to the takeover of Newport Wafer Fab. This one is actually based and located in South Wales. Wingtech has gotten hold of or rather acquired the company of Newport Wafer Fab for around £63 million. The acquisition was through the channel of a Dutch subsidiary it owns. It is called Nexperia.

However, a spokesperson for the U.K. government told the media that the deal is still being reviewed. “We have considered this issue that has been presented to is thoroughly, and we shall continue to monitor the situation closely,” the spokesperson said. Wingtech did not immediately take on the account to respond to the media about this matter.

China's Wingtech Warns Newport Wafer Fab Deal Is At Risk

In a couple of the last few years, the company has become very much interested in semiconductors. They have approximately 20,000 staff and a market value of which goes roughly around $18 billion, it is one of those many companies that are present in China which receives the backing of the Chinese government.

On the other hand, situated at a 28-acre site, Newport Wafer Fab has an employment rate of around 400 people and it is known to be doing a production of around 8,000 wafers a week. The U.K. government is also debating and deciding if they are going to approve the sale of Cambridge-based chips.

The fact that all the Tech Firm is causing and facing some or the other problem simultaneously is quite concerning for the industry. What comes on next is something that needs to be monitored and updated. If you want to know you can obviously check the news for more updates.