Berlin is “examining” a plan to acquire a German semiconductor factory by a Chinese-owned Swedish company, a government source said on Thursday, at a time when Chinese investments in the country are highly controversial. According to the daily business. HandelsblattThe takeover of this Elmos factory by Sweden’s Silex, owned by the Chinese group Sai MicroElectronics, will probably be approved, with a decision expected next week.
“The review is continuing and has not yet been completed,” the government source said. Unlike the case of the capital increase of the Chinese shipowner Cosco in a container terminal in Hamburg, Chancellor Olaf Scholz and the Ministry of Economy have agreed this time to give the green light to the operation, always in accordance with Handelsblatt. His argument: Elmos technology is outdated and there is no danger of loss in this area.
The intelligence service advises against this acquisition
However, the German intelligence service, under the authority of the Ministry of the Interior, would have advised against approving the acquisition. It is not only a question of knowing how to do but of productive capacities. Currently, China is buying industrial capacity specifically to put pressure on countries, he warned according to the Handelsblatt. Elmos, which produces semiconductors mainly for the automotive industry, announced at the end of 2021 that it would sell its chip manufacturing plant in Dortmund, Germany, for €85 million to Silex.
The German government for its part approved on Wednesday a controversial investment by Cosco in the Hamburg port terminal, but limiting the stake sold to avoid any influence of the Chinese group in the company’s strategic decisions. The commitment is intended to silence criticism of Chancellor Olaf Scholz, in Germany and in the European Union, for his alleged support of this investment.
The EU attaches greater importance to the protection of critical infrastructure, in particular since Russia’s invasion of Ukraine. Germany’s leading economic partner and vital market for its powerful auto sector, Beijing has long been spared from Berlin. Although Europe’s leading economy has toughened its tone for a year, some fear it will repeat the mistakes of the past when it became dependent on Russian gas. In this context, Olaf Scholz is preparing for a delicate trip to Beijing next week, the first visit by an EU leader since the end of 2019.
Source: BFM TV
