The controversial sale of the Newport Wafer Fab to Chinese smartphone assembly company Wingtech Technologies is over and dusted off.
Companies House has issued a confirmation statement describing the transfer of shares to Nexperia, a Dutch entity controlled by Wingtech.
Monday, Wingtech filed [PDF] with the Shanghai Stock Exchange to announce the conclusion of the transaction.
The deal is controversial – UK Prime Minister Boris Johnson has pledged a national security investigation and the UK Minister of State has pledged to review the deal.
Once the agreement is reached, the status of this review and investigation is uncertain.
What is known is that the Newport Wafer Fab can produce 32,000 wafers per month, working on a 200nm process. This is far from cutting edge technology given that TSMC in Taiwan is working on a 3nm process.
Of course, not all electronic components need the latest and greatest, and the Newport plant specializes in providing unglamorous but important silicon for automotive, medical, industrial, consumer, telecom and other applications. high power.
Wingtech’s canned statement about the acquisition paints a rosy picture of the future of the Fab, assuring workers and suppliers that jobs will be secure and suggesting new investments will be made.
But Nexperia’s customers told a different story. CNBC Last week, an article described a US-based Newport Fab customer whose contract was being canceled due to the takeover deal.
Perhaps the promised review of the deal will take this claim into account. But once the deal is completed, the UK government will need to take drastic action to reverse the deal or find ways to mitigate its effects. ®