The German government intends to approve a China-based company’s acquisition of a chip production factory belonging to the Dortmund-based semiconductor company Elmos, despite the German intelligence agency warning against the move, according to German business daily Handelsblatt.
Swedish company Silex Microsystems AB, which is a subsidiary of China’s Sai Microelectronics Group, is planning to acquire Elmos. The acquisition is currently under review by Germany’s Ministry of Economic Affairs and a final decision is expected in the next few weeks, Handelsblatt reported on Oct. 27 citing federal sources.
In December last year, Sai Microelectronics announced that Silex planned to acquire the automotive chip manufacturing line of Elmos Semiconductor SE for 84.5 million euros….