Feeds

German company Siemens owes Brits £50 million

No buyer for Geordie fab before 31 January

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

The deadline has expired for a buyer for the Siemens fab in North Tyneside which means the company will have to refund £50 million to British taxpayers. But the Department of Trade and Industry (DTI) still holds out hope of a sale, even though the prospects now look bleak. When the fab unexpectedly shut down in early August of last year, Peter Mandelson, then the newly appointed minister for the Department of Trade and Industry (DTI), vowed he would find a buyer. Yet despite rumours that a Chinese consortium was interested in the fab, so far no buyers seem to have come forward. A DTI spokesman said: "What Mandelson said at the time was that under the rules of the DTI scheme, we [the DTI] have the power to reclaim those monies and we'd take a view on that in the appropriate time." But he said that so far such attempts had proved unsuccessful, even though the DTI was still trying. "Efforts to market and sell the plant continue," he said. The UK government had not decided whether to make Siemens cough up or not. Siemens may have to stump up the £50 million in government subsidies it got for opening the fabrication plant in the former mining region. Only two weeks ago, the rumours first reported here about a Chinese consortium were again circulating. Repeated calls to Siemens over the last six months have met with no response, so far. Earlier today, Dataquest confirmed that the semiconductor industry was again on the rise. ® Related Stories Siemens to restructure itself out of chips Siemens to close state-of-the-art fab UK government in disarray over Siemens closure Siemens steps up attempt to sell fab Siemens blames IMF-backed Koreans for fab closure STMicroelectronics tipped to buy Siemens fab Koreans hit back at allegations of dumping Chinese consortium interested in UK DRAM fab Mandelson spins like gyroscope do

Website security in corporate America

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
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
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.