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

Security for virtualized datacentres

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. ®

Security and trust: The backbone of doing business over the internet

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.