Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first previous 1-2021-40 last
To: Blurb2350

To continue with the metaphor, we are certainly a touchy feeling butterfly being eaten by a lizard.


21 posted on 07/07/2021 1:54:22 PM PDT by Levy78
[ Post Reply | Private Reply | To 6 | View Replies]

To: gattaca

What a surprise! /s


22 posted on 07/07/2021 1:55:41 PM PDT by Chgogal (Hey Biden, I am a loyal supporter of the Biden's Banana Republic!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: gattaca

ChiCom bump for later....


23 posted on 07/07/2021 2:05:26 PM PDT by indthkr
[ Post Reply | Private Reply | To 1 | View Replies]

To: PMAS
All Americans need to defund China by putting up 30% import tariff on all imports.

Fixed it for ya.

24 posted on 07/07/2021 2:13:57 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 8 | View Replies]

To: gattaca

Tariffs are globalist Kryptonite.


25 posted on 07/07/2021 2:15:30 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: gattaca

Between the Muslims & the Chinese, Britain is committing suicide.


26 posted on 07/07/2021 2:24:13 PM PDT by ridesthemiles ( )
[ Post Reply | Private Reply | To 1 | View Replies]

To: null and void

> Dang. My old tired eyes read that as Suxess. <

Ha! And then you wonder why Harry and Meghan never invite you over for tea.


27 posted on 07/07/2021 2:32:27 PM PDT by Leaning Right (I have already previewed or do not wish to preview this composition.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Leaning Right
Mae'r ddogfennaeth yn Gymraeg
28 posted on 07/07/2021 3:51:44 PM PDT by Myrddin
[ Post Reply | Private Reply | To 27 | View Replies]

To: Myrddin

Un da!


29 posted on 07/07/2021 4:01:30 PM PDT by Leaning Right (I have already previewed or do not wish to preview this composition.)
[ Post Reply | Private Reply | To 28 | View Replies]

To: gattaca

“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.”

It’s China. Seize control back. If the Chicomms object, hire a dozen Indian Gurkhas to kick China’s Mickey Mouse ass.


30 posted on 07/07/2021 4:03:40 PM PDT by sergeantdave (Federal courts no longer have any standing in America. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: gattaca

Taiwan has one of if not the largest large semiconductor factories. This is the biggest reason the Chicoms want to invade Taiwan.
Chi coma are trying to lock up all critical resources, manufacturing chokepoints.


31 posted on 07/07/2021 4:23:10 PM PDT by grumpygresh (Civil disobedience by jury nullification. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: G Larry

Closed until a new environmental impact study is complete. Nobody able to work there due to OSHA concerns. Let it rot.


32 posted on 07/07/2021 4:26:57 PM PDT by wgmalabama (We will find out if the Vac or virus risk was the correct choice - can we put truth above narrative?)
[ Post Reply | Private Reply | To 10 | View Replies]

To: gattaca

Yes, Red China does that sometimes. You can’t trust Red China. Companies who don’t know that have really stupid leaders.


33 posted on 07/07/2021 4:30:02 PM PDT by \/\/ayne (I regret that I have but one subscription cancellation notice to give to my local newspaper)
[ Post Reply | Private Reply | To 1 | View Replies]

To: central_va

Tariffs don’t go to the American workers at the manufacturers, buy American solves the problem.


34 posted on 07/08/2021 8:44:52 AM PDT by PMAS (Vote with your wallets, there are 80 million of us - No Amazon, No Chy-Na made )
[ Post Reply | Private Reply | To 24 | View Replies]

To: PMAS
Tariffs don’t go to the American workers at the manufacturers, buy American solves the problem.

Tariffs protect workers and promote domestic industry. Learn something....

35 posted on 07/08/2021 10:26:52 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 34 | View Replies]

To: central_va

That’s Gov-speak, and Tariff money is directed by the Gov -buy American gets it right to the source


36 posted on 07/08/2021 10:44:52 AM PDT by PMAS (Vote with your wallets, there are 80 million of us - No Amazon, No Chy-Na made )
[ Post Reply | Private Reply | To 35 | View Replies]

To: PMAS

Tariffs FORCE “buy American”. Get serious. How can someone be pro “buy American” and against tariffs? You are schizophrenic


37 posted on 07/08/2021 10:47:37 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 36 | View Replies]

To: PMAS
Our Republican ancestors were smart savvy people.

1924 GOP Platform ( excerpt )


The Tariff

We reaffirm our belief in the protective tariff to extend needed protection to our productive industries. We believe in protection as a national policy, with due and equal regard to all sections and to all classes. It is only by adherence to such a policy that the well being of the consumers can be safeguarded that there can be assured to American agriculture, to American labor and to American manufacturers a return to perpetrate American standards of life. A protective tariff is designed to support the high American economic level of life for the average family and to prevent a lowering to the levels of economic life prevailing in other lands.

In the history of the nation the protective tariff system has ever justified itself by restoring confidence, promoting industrial activity and employment, enormously increasing our purchasing power and bringing increased prosperity to all our people.

The tariff protection to our industry works for increased consumption of domestic agricultural products by an employed population instead of one unable to purchase the necessities of life. Without the strict maintenance of the tariff principle our farmers will need always to compete with cheap lands and cheap labor abroad and with lower standards of living.

The enormous value of the protective principle has once more been demonstrated by the emergency tariff act of 1921 and the tariff act of 1922.

38 posted on 07/08/2021 10:51:42 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 36 | View Replies]

To: central_va

Not against tariffs, but buying American is better and that’s what I do.


39 posted on 07/08/2021 11:04:26 AM PDT by PMAS (Vote with your wallets, there are 80 million of us - No Amazon, No Chy-Na made )
[ Post Reply | Private Reply | To 38 | View Replies]

To: PMAS

Do both.


40 posted on 07/08/2021 11:10:10 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
[ Post Reply | Private Reply | To 39 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-40 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson