Nexperia parent Wingtech Technology has formally demanded that the Dutch government fully restore control and ownership over its subsidiary, following the seizure of the company under the Goods Availability Act (Wbg). “Only then can the Dutch government begin to repair its reputational damage, reduce international tensions and safeguard its own and Europe’s economic security,” a Dutch Nexperia spokesperson relayed to financial newspaper Het Financieele Dagblad (FD) (link in Dutch).
The dispute erupted after Dutch Economic Affairs Minister Vincent Karremans intervened on 30 September to take control of Nexperia, after evidence surfaced that owner Zhang Xuezheng, also known as Wing, was working on halting wafer production in Europe and moving it to China. Wing felt compelled to do so after it became clear that Nexperia would be subjected to the same US export restrictions as Wingtech.
The government’s intervention was followed by a court order to suspend Wing as chief executive. Karremans was aware of a potential court case initiated by Nexperia’s European management, but not knowing when or how long the proceedings would take, he decided to act swiftly.
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