Apple supplier Wingtech awaits UK’s decision on subsidiary Nexperia’s US$72 million deal to buy Britain’s biggest chip maker

The UK government on October 3 delayed its announcement of a decision whether to block or approve Nexperia’s takeover of Newport Wafer Fab

A full assessment of the acquisition was ordered by the UK in May under the country’s new National Security and Investment Act

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The UK’s Newport Wafer Fab employs 450 people and makes 200-millimetre wafer silicon chips, used especially in electric vehicle manufacture. Photo: Twitter

Published: 11:00pm, 5 Oct 2022Updated: 1:40am, 6 Oct 2022

Wingtech Technology Co, once a little-known contract manufacturer of smartphones in China, has found itself in the front line of the country’s expansion drive in semiconductors, as the Shanghai-listed company awaits London’s decision over its Dutch subsidiary Nexperia’s takeover of Britain’s biggest chip maker.

The UK Department of Business, Energy and Industrial Strategy (BEIS) on October 3 delayed its announcement of a decision on whether to block or approve the £63 million (US$72 million) acquisition last year of Newport Wafer Fab (NWF) by Nexperia, according to a report by British tech news site The Register on Tuesday. The BEIS department said in July that it needed another 45 days to review the deal.

A full assessment of that acquisition was ordered by the UK government in May under the country’s new National Security and Investment Act, which came into force in January.

“The only date formally communicated to us by the ISU [the UK’s Investment Security Unit] remains October 3rd,” Nexperia said on Wednesday. “But there are circumstances in which they can stop the clock, to look at specific issues more closely. Beyond that, we cannot comment further.”

Zhang Xuezheng, the chairman and chief executive of Wingtech Technology Co, also serves as chief executive of Dutch subsidiary Nexperia. Photo: Handout

The BEIS department did not immediately respond to a request for comment on Wednesday.

Apple supplier Wingtech awaits UK’s decision on subsidiary Nexperia’s US$72 million deal to buy Britain’s biggest chip maker

The UK government on October 3 delayed its announcement of a decision whether to block or approve Nexperia’s takeover of Newport Wafer Fab A full assessment of the acquisition was ordered by the UK in May under the country’s new National Security and Investment Act

The UK government on October 3 delayed its announcement of a decision whether to block or approve Nexperia’s takeover of Newport Wafer Fab

A full assessment of the acquisition was ordered by the UK in May under the country’s new National Security and Investment Act