Newport Wafer Fab acquisition called-in for national security assessment
25 May 2022 04:42 PM
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.