Future Of British Business
UK Tech Firm Says It Lost Factory After Chinese Firm’s Buyout
- Newport Wafer Fab owned by subsidiary of China’s Wingtech
- Takeover subject of UK probe under the new security act
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Rockley Photonics has been forced to find an alternative manufacturer for its products after a subsidiary of China’s Wingtech Technology Co. took over the British factory it had been using.
The UK-based company planned to keep making its components for sensors, which it aims to sell to the healthcare market, at Nexperia NV’s Newport Wafer Fab, Rockley Chief Executive Officer Andrew Rickman told British lawmakers on Tuesday. That relationship was shuttered after Nexperia bought the plant, he said.