Peredur Calls for Approval for Takeover of Newport Wafer Fab to be Granted Soon

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Plaid Cymru’s Peredur Owen Griffiths has spoken in the Senedd about the need to ensure that the future of a key component of the Welsh economy is secured soon.

The Senedd Member for South Wales East used First Minister’s Questions to highlight the Westminster delays over green-lighting the takeover of Newport Wafer Fab by American-owned firm Vishay.

The company agreed to a £144m deal to acquire the site after the UK Government forced the owner Nexperia to sell the company under national security rules due to its links to China. The deal is subject to a review by Westminster however which is now weeks behind schedule.

Peredur said: “I won’t detail the turbulent history of this site over the last couple of years, but it’s safe to say that the hundreds of staff working there richly deserve some good news of this takeover.

“Despite the interested company being headquartered in a country that is supposedly our closest ally, Westminster seems to have been dragging their heels when it comes to approving the acquisition.

“These delays are delaying investment, they’re delaying job security and they’re delaying expansion.”

He added: “Do you share the concerns and frustrations that I have, as well as the hundreds that work on the site at Newport Wafer Fab, about the wait for Westminster to approve such a key site for the Welsh economy?

“What’s your Government doing to ensure that this process is completed by the 22 February deadline in order to protect the semiconductor industry?”

In response, the First Minister said: “I agree with the points the Member has made.

“He can be assured that the economy Minister here is doing everything we can to persuade the UK Government to deliver on the timetables they themselves have set and to end the uncertainty that is rooted in the decision they themselves made in the first place.”

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  • Gareth Llewellyn
    published this page in News 2024-02-07 10:03:02 +0000

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