Newport Wafer Fab could be sold to US consortium – report

UK government officials are mulling a sale of chipmaker Newport Wafer Fab to a US consortium instead of allowing its agreed deal with China-owned Nexperia to stand. Transporter Bridge, Newport, Gwent, Wales, UK Transporter Bridge in Newport near the fab This is according to reports at the weekend in the Telegraph, which …

[VoiceOfTruth]

There you are

-> UK government officials are mulling a sale of chipmaker Newport Wafer Fab to a US consortium

It's not about national security, it's about selling it to the Americans using national security as a fake reason. Every time we hear politicians telling us to be worried about Russia or China or Zog, it is really about doing something to appease America.

[Anonymous Coward]

Re: There you are

Exactly. The Telegraph is reporting the US is pressuring the UK to not block the sale of another tech company to an American private equity company. If we don't do what they say, there is the threat to block UK access to US defence and security:

https://www.pressreader.com/uk/the-daily-telegraph/20220528/281552294483830

[VoiceOfTruth]

Re: There you are

The UK is as much an independent country as South Vietnam was during the Vietnam war. British politicians only job is to say sucky, fucky, five pounda.

[Roland6]

Re: There you are

Don't you love the doublespeak:

“Congress has already taken action to ease some of the restrictions on British defence companies operating in the US. But instead of adopting a similar approach, it seems the British government is determined to impose unnecessary obstacles that make it harder for American defence firms to operate in the UK.”

Advent Internation (Boston) is not a defence firm, it is a "private equity business"; that, has maintained a London office since 1989 and purchased Cobham in 2019, so I think they are operating quite happily in the UK.

Also I suggest purchasing an existing UK-based defense business doesn't really satisfy the intent of "(US) defense firms operating in the UK".

[martinusher]

Re: There you are

Private Equity has a very poor track record with companies that they acquire. Even if they don't just strip it for 'spare parts' (quick sale of assets followed by dumping the husk) they saddle it with so much debt that the company can't perform and generally ends up mediocre at best but more likely run down and sold.

[Yet Another Anonymous coward]

Re: There you are

But that's the advantage of doing this with a defence contractor - you know that the government will bail it out

[devin3782]

Why not keep it, seems like a useful thing to have does it not?

[Will Godfrey]

Well, we seem to have long track record of selling anything of value.

[devin3782]

We do don't we its like we have an aversion to be prosperous

[Anonymous Coward]

Nationalize it

Nexperia bought it for £63 million which is chump change for a government. The UK should pay the £63m and keep it. Any American vultures will be interested in taking the British subsidy, firing staff and cutting other costs, and selling off whatever pieces they can.

[Anonymous Coward]

What do you mean by "keep it"?

[iron]

It's a manufacturing facility - the Tories are allergic to manufacturing and must destroy whatever traces of it remain in the country. So spake their lord and saviour Maggie.

[IGotOut]

To be fair, the Tories flog anything they can.

C4 anyone?

[Conyn Curmudgeon]

I bet Tunnocks in Scotland will be the next wafer fab company to be bought out.

[Yet Another Hierachial Anonynmous Coward]

Tunnocks

Ye gods I hope not. The thought of a caramel wafer or snowball filled with Cadburys slime is disgusting.

[Fruit and Nutcase]

Tunnocks' wafers are the correct size for the Imperial measures that Boris is bringing back. All that the buffoon will succeed in doing is impede the next generation of scientists and engineers in their work.

[Yet Another Anonymous coward]

But once we are free of French metres Britain will be free to export Imperial cricket pitches anywhere in the world

[MJI]

Tunnocks Caramel Wafers

95 x 26 x 21

Looks SI to me

[MJI]

Re: Tunnocks Caramel Wafers

Just had one as well, I wonder if it was the same one I measured yesterday?