Thursday 26 May 2022 @ 10:15
Department for Business, Energy & Industrial Strategy
Department for Business, Energy & Industrial Strategy
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Newport Wafer Fab acquisition called-in for national security assessment
The acquisition of Newport Wafer Fab has been called-in for a full national security assessment.
The acquisition by Nexperia of Newport Wafer Fab was called-in for a full national security assessment by Business Secretary Kwasi Kwarteng yesterday (Wednesday 25 May).
The government has powers under the National Security and Investment Act 2021 to scrutinise and – if necessary – intervene in qualifying acquisitions on national security grounds.
The government has 30 working days (extendable by up to a further 45 working days) to carry out that assessment. That process is underway.
Channel website: https://www.gov.uk/government/organisations/department-for-business-and-trade
Original article link: https://www.gov.uk/government/news/newport-wafer-fab-acquisition-called-in-for-national-security-assessment
Original article link: https://www.gov.uk/government/news/newport-wafer-fab-acquisition-called-in-for-national-security-assessment
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