#China #Netherlands #politics #news Daan summarizes: “According to a just published article by the NRC newspaper [0], the owner wanted to use #Nexperia’s funds to finance another business (WingSkySemi) which was in financial trouble. He would have done this by making Nexperia place large orders for wafers it did not need. The article mentions Nexperia only requiring $70-80 million in wafers, while Nexperia would have ordered wafers from WingSkySemi with a value of $200 million.
In order to achieve this, the owner is said to have put strawmen without financial experience in place and fire European directors. When other directors raised the alarm about this, they were fired according to the article. This issue was raised to the Dutch government, which then intervened.”
on 02025-10-14#China #Netherlands #politics #news about #Nexperia, perhaps related following the new rare-earths restrictions that might prevent European cars from being exported to the US
on 02025-10-14