Newport Wafer Fab : Swift probe into China's purchase of UK chip plant

According to the UK head, workers and customers at Britain's largest microchip manufacturer are growing "impatient" with the review of the Chinese-backed takeover.

Newport Wafer Fab : Swift probe into China's purchase of UK chip plant

According to the UK head, workers and customers at Britain's largest microchip manufacturer are growing "impatient" with the review of the Chinese-backed takeover.

The Newport plant of Dutch company Nexperia is a subsidiary to Shanghai-listed Wingtech. It employs approximately 450 people.

The UK Ministers announced in May that they would investigate the takeover of Newport Wafer Fab on grounds of national security.

Toni Versluijs stated that one of his workers was afraid for her job because of the inquiry.

He said that she was particularly upset because she just purchased a new home.

Expect the investigation to be completed this week.

Mr Versluijs stated that "Last Friday, a young woman in Newport entered her office as the general manager and declared: "Look I've just purchased a new home."

"After this review, will I still be able to get a job?"

He said that it was in everyone's best interests to clarify the situation. While countries may investigate national security reasons, any investigation must be done "swiftly".

He revealed that Nexperia had spent PS160m of Dutch money in its plants in Newport, Manchester and Manchester in the past 15 month and denied rumors that the company was planning to move abroad.

He said, "We have made big investments in Newport and Manchester."

"We will be here for the long-term. We are here to stay.

Nexperia's semiconductors or chips are used in a variety of electronic devices, from smartphones to home appliances to cars.

The committee pressed Mr Versluijs on the length of an investigation he believed should be completed.

The current rules allow for 30 working days, with the possibility of extension to 45 working days.

He responded, "I believe there is an international standard for how it is done in other nations."

"I would suggest that we benchmark, then I believe we'll be able to provide the answer."

Kwasi Kwarteng, UK Business Secretary, announced in May that he had completed a full assessment of the acquisition as part of the National Security and Investment Act.

He tweeted that "We welcome overseas investments, but they must not threaten Britain’s national security."

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