Netherlands cracks down on China-owned chip firm over security risk
10 hours ago
- #national-security
- #semiconductors
- #EU-China-tensions
- Dutch government takes control of Chinese-owned Nexperia to safeguard semiconductor supply.
- Decision made due to 'serious governance shortcomings' and to prevent chip shortages.
- Nexperia's owner Wingtech plans legal actions and seeks government support.
- Move may escalate EU-China tensions amid existing trade and security concerns.
- US previously placed Wingtech on its 'entity list' over national security risks.
- UK forced Nexperia to sell a silicon chip plant due to security concerns.
- Dutch government invokes Goods Availability Act to mitigate economic security risks.
- Nexperia's production continues as normal under government oversight.
- Wingtech shares dropped 10% following the Dutch government's intervention.
- Nexperia and Wingtech assert compliance with laws and explore legal remedies.