The Chinese-backed owner of Britain’s biggest microchip plant has claimed the facility could shut down if the UK Government successfully blocks its takeover. Nexperia claims Newport Wafer Fab, which employs around 500 staff, would face losses of £170m a year and would become unviable if it is forced to sell the facility.
The Telegraph reports that the UK Government has ordered Nexperia, which is headquartered in the Netherlands but owned by China's Wingtech, to sell the plant on national security grounds. The company took over the site, located on Cardiff Road in Duffryn, in 2021.
Nexperia has mounted a legal challenge to the government's decision, warning it could lead to hundreds of job losses and threaten Newport's economic future. The company has enlisted Lord Pannick, who represented Boris Johnson in his Partygate defence, to fight its case.
