Wingtech invites Nexperia custodians to China amid ongoing control dispute

Wingtech Technology has asked the court-appointed custodians of its Dutch subsidiary Nexperia to question to China for discussions implicit the company’s governance and ownership, arsenic ineligible and governmental tensions astir the chipmaker continue.

According to a Bloomberg report, the invitation was sent to Guido Dierick and Arnold Croiset van Uchelen, who were appointed arsenic supervisors aft the Amsterdam Enterprise Chamber moved to prehend astir each shares successful Nexperia.

Wingtech said: “As the lawful controlling shareholder of Nexperia, Wingtech has made its presumption clear: the halfway prerequisite and cardinal ground for resolving Nexperia’s existent governance impasse is the restoration of Wingtech’s lawful power and afloat shareholder rights.”

The timing and determination of immoderate talks person not yet been set. Nexperia and the custodians did not respond to requests for comment.

The determination comes aft a tribunal involution earlier this year, successful which the judges besides ordered the suspension of Wingtech laminitis Zhang Xuezheng from his relation arsenic Nexperia’s main executive.

Wingtech is challenging the Enterprise Chamber’s involution astatine the Netherlands’ Supreme Court.

The entreaty is inactive pending, leaving the existent shareholding statement successful place.

In its ineligible arguments, Wingtech contends that the tribunal exceeded its remit and placed undue value connected submissions from Nexperia’s ain enactment and from the Dutch Ministry of Economic Affairs.

In parallel, the Dutch authorities has utilized caller powers allowing it to artifact oregon unwind definite firm decisions astatine Nexperia, citing concerns that Wingtech could displacement exertion to China.

That ministerial bid was enactment connected clasp past period to easiness tensions and alteration exports to resume from a Nexperia installation successful China.

Despite this governmental step, interior struggle betwixt Nexperia’s Dutch basal and its Chinese operations has persisted.

The Chinese sites antecedently represented astir fractional of the group’s semiconductor output.

Amid disagreements implicit backing and control, wafer shipments to Nexperia’s works successful Guangdong person been suspended.

The disruption has raised worries among automotive manufacturers and different customers astir imaginable renewed spot shortages, fixed Nexperia’s relation arsenic a supplier of cardinal components.

Wingtech has said the projected talks with the Dutch custodians are intended to re-establish a modular governance model astatine Nexperia, supply greater stableness for the concern and enactment continuity successful the wider semiconductor proviso chain.

"Wingtech invites Nexperia custodians to China amid ongoing power dispute" was primitively created and published by Just Auto, a GlobalData owned brand.