Source · Select Committees · Foreign Affairs Committee
Recommendation 2
2
Paragraph: 22
We recommend that the Government calls in the acquisition of Newport Wafer Fab by Nexperia...
Recommendation
We recommend that the Government calls in the acquisition of Newport Wafer Fab by Nexperia for review and imposes appropriate mitigating measures, as a matter of urgency.
Paragraph Reference:
22
Government Response
Acknowledged
HM Government
Acknowledged
We note the Committee’s recommendation. The Government does not and will not prioritise short-term commercial interests over national security considerations. The Government is committed to the semiconductor cluster and the vital role it plays in the UK economy. While the Business Secretary will have powers to retrospectively ‘call in’ transactions when the Government’s investment screening regime under the National Security & Investment Act commences in January 2022, as the Prime Minister set out in his evidence to the Liaison Committee on 7 July, the National Security Adviser is presently conducting a review into the acquisition of Newport Wafer Fab by Nexperia. The review will consider carefully the various aspects of this acquisition. It would be inappropriate to comment further before the conclusion of the National Security Adviser’s review.