The German government will likely block the Chinese takeover of Elmos’ chip factory, the Dortmund-based company said on Monday, 7 November 2022.
Reporting by Tom Sims; Editing by Josie Kao
(REUTERS): The economics ministry had been examining the sale to competitor Silex, a Swedish company that is a subsidiary of Chinese group Sai Microelectronics. The deal “will most likely be prohibited” in a “new development”, Elmos said on Monday.
Until Monday, the ministry “had indicated to the parties that the transaction most likely will be approved”. Elmos said that it would examine further steps “after receiving the final assessment”.
Silex did not immediately respond to a request for comment outside of normal business hours.
The sources added the economy ministry and the government are currently working on a China strategy focused on reducing one-sided dependencies and encouraging diversification, as well as protecting infrastructure and preventing technology leakage.
German Chancellor Olaf Scholz said during a trip to Beijing last week that it was clear that China and Germany were no friends of “decoupling”, while also complaining about increased difficulties for German companies accessing the Chinese market.
What You Missed:
Hopium Unveils The Hopium Machina Vision And The Opening Of Its Order Book
US Tech Curbs On China Will Affect Singapore’s Semiconductor Sector: MTI
China Holds Emergency Talks With Chip Firms After U.S. Curbs
Indonesian Nickel Could Be Key To EV Battery Industry
IDC: Vivo Secures The Top Spot In Chinese Smartphone Market For Q3 2022
Samsung’s Smartphone Shipments Drop By 8 Percent In Global Markets In Q3 2022
Versatility Of Waterjet Helps Global Companies
India Signs Deal With Belgium-Based IMEC For Chip-Making
The Investigation Status Quo of the Environmental and Free-Cutting Brass
WANT MORE INSIDER NEWS? SUBSCRIBE TO OUR DIGITAL MAGAZINE NOW!
Letter to the Editor
Do you have an opinion about this story? Do you have some thoughts you’d like to share with our readers? APMEN News would love to hear from you!
Email your letter to the Editorial Team at [email protected]