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Communist China Seizes Control of Britain’s Largest Microchip Factory
Breitbart ^ | July 7, 2021 | KURT ZINDULKA

Posted on 07/07/2021 12:12:46 PM PDT by gattaca

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 Welsh firm, which produces silicon chips for the automotive industry and has been developing next-generation “compound semiconductors”, has been hard hit over the past year as the Chinese coronavirus crisis resulted in a global chip shortage. Nexperia has agreed to pay out £65 million to pay off Newport Wafer Fab’s debts in exchange for taking ownership.

Prior to the Chinese takeover, Newport Wafer Fab had called on the British government to step in and prevent the sale and to help find alternative funding sources. Yet, despite the concerns over national security, the Tory government did not intervene.

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.

(Excerpt) Read more at breitbart.com ...


TOPICS: News/Current Events
KEYWORDS: ccp; chipshortage; newportwaferfab; nexperia; uk; wales; wingtech
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1 posted on 07/07/2021 12:12:47 PM PDT by gattaca
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To: gattaca

When China rules the whole world,will there be enough manpower and money to keep the world spinning like they want it to go?????


2 posted on 07/07/2021 12:14:16 PM PDT by Hambone 1934 (Dems love playing Nazis.....The republicans love helping them)
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To: Hambone 1934

There will be enough manpower. The problem is motiviation.

I ain’t workin’ on Comrade Xi’s farm.


3 posted on 07/07/2021 12:27:25 PM PDT by Pearls Before Swine
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To: gattaca

Seeing as the plan is in the UK, the ChiComs should put Meghan Markle in charge of it. She’d love the attention. And let’s be honest. She could probably use the money.

Oops! I just committed a social blunder there. I shouldn’t have said “Meghan Markle”. I should have said “the Duchess of Sussex”. Sorry.


4 posted on 07/07/2021 12:28:50 PM PDT by Leaning Right (I have already previewed or do not wish to preview this composition.)
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To: Hambone 1934

When China rules the whole world,will there be enough manpower and money to keep the world spinning like they want it to go?????


Correction it isn’t China per se, its the CCP, hated by ordinary Chinese.


5 posted on 07/07/2021 12:29:01 PM PDT by PIF (They came for me and mine ... now its your turn)
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To: gattaca

Wow. It’s well-known that China has been seizing valuable infrastructure when Third World dictators fail to repay their foolish loans, but now it’s happening in the (so-called) First World! In a way, you have to admire the insectlike Chinese for doggedly pursuing their greedy aims . . . while the West carries on like a bunch of whiny, short-attention-span toddlers.


6 posted on 07/07/2021 12:30:08 PM PDT by Blurb2350 (posted from my 1500-watt blow dryer)
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To: gattaca

China realized that they peaked. Their domestic demand would not keep their economic growth high enough to fund their military needs.

So, China went out and started buying up the world and its natural resources.

China also went out and started buying up politicians so no nation would oppose them until it was too late.


7 posted on 07/07/2021 12:32:22 PM PDT by Erik Latranyi (We are being played by forces most do not understand)
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To: gattaca

All Americans need to defund China by not buying their crap


8 posted on 07/07/2021 12:33:08 PM PDT by PMAS (Vote with your wallets, there are 80 million of us - No Amazon, No Chy-Na made )
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To: Leaning Right

“Oops! I just committed a social blunder there. I shouldn’t have said “Meghan Markle”

Actually, she’s now known as “Harry’s wife.”

It’s a real thing!


9 posted on 07/07/2021 12:33:12 PM PDT by MonicaG (Stunned... in 2021)
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To: gattaca

If the Brits had any guts or intellect they would stop the acquisition.


10 posted on 07/07/2021 12:47:11 PM PDT by G Larry (Force the Universities to use their TAX FREE ENDOWMENTS to pay off Student loan debt!!!)
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To: G Larry
"If the Brits had any guts or intellect they would stop the acquisition."


It's pretty obvious from the continued actions of the rapefugees in the UK that the Brits no longer have guts nor intellect.

11 posted on 07/07/2021 12:52:32 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: gattaca

CHINA & AMERICA’S CIVILIZATIONAL SUICIDE!
8 MINUTE VIDEO
https://www.brighteon.com/b224b34c-c347-446c-b64d-8079ecf05196


12 posted on 07/07/2021 12:55:13 PM PDT by Dick Bachert (THE DEEP STATE HATES US! IT DETESTS TRUMP!!)
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To: G Larry

That was my thoughts too. Just tell them nope not happening. I wonder that about all of the debt, land, buildings and such that the Chicoms have taken over here. Just tell them too bad so sad. Might be interesting to see what happens. I’m sure it would not be good.


13 posted on 07/07/2021 12:57:14 PM PDT by southernindymom
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To: Hambone 1934
Looking so far like this will indeed be the Century of China, as has been predicted.

China has been weaponizing space. Chinese warships have increased in numbers and power. China now controls many South American ports. Chinese troops will mass up in Canada and South America, then Mexico.

America will become China’s new farmland, mineral resource and their elites’ playground. Americans will be forced to urban (work) zones, constantly monitored, socially scored, and quickly disciplined by pulled privileges.

Patriots waited too long, and now the commie cancer has metastasized (via our progressives). Last minute treatment, now, will be harshly invasive and damaging.

14 posted on 07/07/2021 12:57:39 PM PDT by polymuser (A socialist is a communist without the power to take everything from their citizens...yet.d)
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To: gattaca

It was inevitable. It will happen to ALL foreign owned businesses eventually.


15 posted on 07/07/2021 12:58:43 PM PDT by Blood of Tyrants (“Unlimited power in the hands of limited people always leads to cruelty.” ― Aleksandr Solzhenitsyn,)
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To: Tell It Right

“It’s pretty obvious from the continued actions of the rapefugees in the UK that the Brits no longer have guts nor intellect.”

I spent some time in the UK in the nearly to mid 60’s and the change in the country’s direction and citizens demeanor is amazing. These are definitely NOT the same people who prevailed against the Germans in the Battle of Britain.


16 posted on 07/07/2021 1:25:08 PM PDT by billyboy15
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To: gattaca

Dave Ramsey would state this as an example of if you play with snakes, you are going to get bit.


17 posted on 07/07/2021 1:33:19 PM PDT by Mouton (The enemy of the people is the media.)
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To: Leaning Right

Dang. My old tired eyes read that as Suxess.


18 posted on 07/07/2021 1:34:19 PM PDT by null and void (Our two party system is not two views fighting. There is only one view. Government needs more power!)
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To: Blood of Tyrants

It is located in the UK!

“factory in South Wales”


19 posted on 07/07/2021 1:36:09 PM PDT by PghBaldy (12/14 - 930am -rampage begins... 12/15 - 1030am - Obama's advance team scouts photo-op locations.)
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To: gattaca; All

This could be really serious since access to the immensely complicated ASML chip making machines, described in the following NYT article, has been a serious roadblock for the Chicoms.

https://www.nytimes.com/2021/07/04/technology/tech-cold-war-chips.html


20 posted on 07/07/2021 1:38:36 PM PDT by libstripper
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