It's Probably Nothing to Worry About -- Chinese Company Seizes UK Microchip Factory ( Wafer Fab )

[RicInOR]

"A state-backed Communist Chinese firm has conducted a hostile takeover of the UK's largest microchip factory, raising concerns about Beijing's growing control of the market during a global chip shortage. On Monday, Dutch semiconductor manufacturer Nexperia, which is controlled by the China-owned electronics firm Wingtech, took 100 per cent control of the Newport Wafer Fab's factory in South Wales after using a contractural clause to seize the company. "

"In 2019, Nexperia signed a contract to support the factory in exchange for Newport Wafer Fab putting up its factory as collateral. After the British company was unable to fulfil the manufacturing quota obligations in the deal, the Chinese owned enterprise was able to take full control of the factory, The Telegraph reported."

Communist China Seizes Control of Britain’s Largest Microchip Factory

A state-backed firm in Communist China has conducted a hostile takeover of the UK's largest microchip factory amid a global chip shortage.

www.breitbart.com

Britain's biggest microchip factory sold to Chinese-owned tech firm

Newport Wafer Fab facility sold in deal worth about £65m despite security concerns

www.telegraph.co.uk

Read More

 

[The Heretic]

"A state-backed Communist Chinese firm has conducted a hostile takeover of the UK's largest microchip factory, raising concerns about Beijing's growing control of the market during a global chip shortage. On Monday, Dutch semiconductor manufacturer Nexperia, which is controlled by the China-owned electronics firm Wingtech, took 100 per cent control of the Newport Wafer Fab's factory in South Wales after using a contractural clause to seize the company. "

"In 2019, Nexperia signed a contract to support the factory in exchange for Newport Wafer Fab putting up its factory as collateral. After the British company was unable to fulfil the manufacturing quota obligations in the deal, the Chinese owned enterprise was able to take full control of the factory, The Telegraph reported."

The move is reminiscent of China's Belt and Road 'debt-trap diplomacy', in which the Communist nation offers predatory loans to developing nations throughout Asia, Africa, South America, and Eastern Europe for infrastructure projects — often built with Chinese labour and materials — and when the countries fail to repay the loans, the CCP seizes the assets.

It seems some people never learn. This is how the CCP does business, along with other methods to lie/cheat/steal. It is better to just not invest in China lest you lose control of your investment and/or IP. I saw this back in the mid 80s when the tech co. I worked for sold the CCP comms equipment to monitor water levels on the Yellow River. Here we are 30+ years later and orgs are still falling for these traps the CCP sets - they just can't resist the $ they think they will make and they think they can trust the CCP and/or force them to play fair when history shows they won't/don't.

 

[revjen45]

The Chinese are extremely smart people with a 2000 year old nation, and a culture older than that. They are playing Go while we are playing checkers. Communism is the most ruthless and evil philosophy in existence. Combine smart with totally ruthless and evil and you get unbelievably dangerous. Remember that Stalin was responsible for the deaths of more Soviet citizens than Schicklgruber & Co. were. The CCP are the mightiest murderers in the history of Mankind and they have the patience to pursue their goals over generations.