Veröffentlicht: 03 December 2016 Saturday, 08:06 AM
Bonn, Dec 02 (GermanNewswire.com/News) US President Barack Obama has submitted a decree against the planned takeover of German chip maker Aixtron by a Chinese company. Reason for the blockade of the business are connected "risks for the national security" of the USA, announced on Friday the Treasury Department in Washington. There are concerns that China can also use Aixtron products militarily.
Obama claimed his veto against the purchase of the US branch of Aixtron by Fujian Grand Chip Investment (FGC). In addition, the German and Chinese companies are asked to "take all necessary measures to stop the planned purchase of the US branch of Aixtron within 30 days". Even if Obama`s decree specifically concerns only the US branch, it means de facto the blockade of the entire planned purchase of the Aachen company by FGC.
In the spring, the Chinese company had submitted a takeover bid for Aixtron over EUR 670 million. At the beginning of September, the Federal Ministry of Economics issued a safety certificate, but withdrew it in October. Minister Sigmar Gabriel (SPD) stated that the sale was being re-examined because there were indications that the national interests of the Federal Republic were affected. According to a "Handelsblatt" report, US intelligence agencies have intervened against the initial agreement to the transaction.
Aixtron has about 750 employees in Germany; in the USA, there are about one hundred employees at one location in California.
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