Reacting to the news that the takeover of Newport Wafer Fab has finally been approved, Peredur Owen Griffiths, Plaid Cymru MS for South Wales East, said: “This is fantastic news for all concerned.

“This is not just a boost for the workers that currently work on site but it is also a boost for those who will come to work on the site in the months and years to come now that the future of Newport Wafer Fab is secured and the promised investment can begin.

“Then of course there is the vast supply chain in the semi-conductor cluster that rely on Newport Wafer Fab to be the anchor for many more jobs and income generation across the south of our country.

“This is a good day not just for Newport but for the whole of Wales.”

Peredur added: “The one sour note in all of this is the time it has taken to approve the deal.

“Given Vishay is American-owned, this should have been a straightforward and rapid acquisition process.

“The powers-that-be in Westminster could have put the Newport Wafer Fab staff out of their misery and given this deal the green light before Christmas instead of dragging this episode out.

“Wales – not some out of touch minister in Westminster – should have the powers and responsibility to approve deals such as this.

“Westminster incompetence – which we have seen a lot of in recent years - could have botched the whole deal, leading to serious consequences for the local economy and the livelihoods of hundreds of people living in Wales.”

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