After the Chinese group Cosco bought into the Hamburg port terminal, another group from the Far East turned their attention to a German semiconductor company. After a warning from the Office for the Protection of the Constitution, the takeover is being examined by the Federal Ministry of Economics.
The federal government has officially confirmed that it is reviewing the planned sale of a chip factory in Dortmund to a Chinese-owned Swedish company. Accordingly, a subsidiary of a Chinese group wants to take over the plant of the German operating company Elmos Semiconductor. A spokesman for the Federal Ministry of Economics said that the investment review process for a possible takeover by the Swedish company Silex, a subsidiary of the Chinese Sai group, would be "completed in good time".
At the end of last year, Elmos announced that it wanted to sell its wafer production facility in Dortmund to Silex for a total of around 85 million euros. Elmos develops, produces and sells semiconductors primarily for use in cars. With the sale, Elmos wants to give up its own production and instead buy its chips from contract manufacturers.
According to reports, the Federal Ministry of Economics is currently examining other planned investments that involve acquisition by Chinese companies or their subsidiaries. Government spokesman Steffen Hebestreit said the Federal Chancellery only found out about the planned deal in Dortmund from the media on Thursday. Chancellor Olaf Scholz will travel to China next week.
In contrast to the dispute over the entry of the Chinese state shipping company Cosco at a terminal in the port of Hamburg, "in the case of Elmos, there should be agreement between the Federal Chancellery and the Federal Ministry of Economics," reported the "Handelsblatt". The chip technology from Elmos is outdated and there is no risk of know-how leaking out.
As the newspaper further reported, the Federal Office for the Protection of the Constitution is said to have advised against the takeover. It's not just about know-how, but about production capacities. According to this, China is making targeted purchases in industries in order to be able to put pressure on individual countries.
The federal cabinet decided on Wednesday that the Chinese group Cosco may only acquire a stake of less than 25 percent in the container terminal - instead of the planned 35 percent. However, many departments were in favor of a complete ban on the business due to safety concerns.
