Feeds

Europe's largest independent chip foundry founders

Newport Wafer fab calls in receivers after banks call in parent's debt

  • alert
  • submit to reddit

Build a business case: developing custom apps

Newport Wafer Fab Ltd (NWL) has become the latest UK-based chip plant to be threatened with closure by the intense competition in the semiconductor market. NWL went into administrative receivership last week -- administrator Price Waterhouse will run the company while it seeks a buyer. The chip maker, the largest independent foundry in Europe, claimed the decision to call in Price Waterhouse had been made when banks called in loans owed by NWL's Hong Kong parent, QPL International Holdings. The news follows concern over the future expressed last month when it emerged that NWL was considering a raft of jobs cuts (see NWL cuts could affect Wales). At that time, chief executive Steve Byars said the business was "fundamentally sound". That statement, plus a recent cash injection of £230 million, suggests the closure is more about QPL's problems than the plant's. NWL's plant currently employs around 550 people. It runs 1.5-micron and 0.35-micron CMOS processes and an 8in wafer line. NWL was formed in 1992 out of QPL's buyout of a former Inmos plant. ®

Boost IT visibility and business value

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Microsoft exits climate denier lobby group
ALEC will have to do without Redmond, it seems
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.