China’s Wingtech to Sell British Wafer Factory Under U.K. Pressure

What’s new: Chinese smartphone assembler Wingtech Technology Co. Ltd. said it will sell its British microchip factory after the U.K. government ordered it to unwind the 2021 acquisition citing national security concerns.

Wingtech’s Dutch subsidiary Nexperia Holding NV will sell its Neptune 6 unit to Siliconix, a subsidiary of U.S. semiconductor manufacturer Vishay, for $177 million, Wingtech said Thursday in a statement. Nexperia owns the Newport Wafer Fab in Wales, Britain’s biggest microchip factory.