Britain's biggest microchip factory is to be sold to a Chinese-owned technology firm despite fears over national security. Nexperia said it had agreed to buy Newport Wafer Fab in a deal reportedly worth around £63million. Ministers have been urged to intervene because Netherlands-based Nexperia is owned by Chinese electronics company Wingtech, whose shareholders include state-funded investors. Tom Tugendhat, Tory chairman of the Commons foreign affairs committee, urged ministers to review the deal under the National Security and Investment Act. The Welsh Government said it welcomed the takeover which would see it recover its own £18m investment, plus interest.

Source: Daily Mail July 06, 2021 00:07 UTC