The UK government has finally approved US electronics company Vishay’s takeover of Newport Wafer Fab factory, the UK’s largest semiconductor manufacturing site. Deputy Prime Minister Oliver Dowden has now issued a consent order approving the purchase. Under the terms of the agreement, the UK government must be informed if Vishay plans to give third parties access to the factory via sale, transfer, or lease agreements.
In a statement released when Vishay first entered into an agreement with Nexperia to buy the facility, Joel Smejkal, president and CEO of Vishay said: “Under new leadership in early 2023, Vishay set an ambitious goal of investing approximately $1.2 billion in capacity over a three-year period in order to position the company to seize the opportunities created by the megatrends of e-mobility and sustainability needed for a Net Zero economy.”
He added: “For Vishay… in addition to expanding capacity, we intend to collaborate with the Compound Semiconductor Cluster in South Wales and to join with key stakeholders committed to developing the semiconductor industry in the UK including university and community partners in the UK and particularly South Wales.”
