British authorities have asked Chinese entrepreneurs to sell their company Newport Wafer Fab, which owns the largest microchip factory in Britain. This was stated by the Minister for Enterprise, Energy and Industrial Strategy of the Kingdom Grant Shapps, reports today, November 17, TASS.
“Today, in compliance with the National Security and Investment Act, I issued a non-appealable order requiring Nexperia to sell at least 86% of Newport Wafer Fab. We welcome trade relationships and foreign investment that help sustain economic growth and create jobs. However, if a threat to national security is identified, we will act decisively.” — leads the agency of his statement, posted on Twitter.
National security could be threatened, the minister said, if the new owner were to gain access to British technology and know-how related to semiconductor manufacturing.
It is reported that the British government will set a deadline for the sale of Newport Wafer Fab.
