The German Government has set a barrier to the Chinese company's acquisition move

According to the news of the German News Agency (DPA), which is based on the German government circles, the German Council of Ministers did not approve the sale of Elmos' chip factory to Sweden-based Silex, a subsidiary of the Chinese group Sai Microelectronics, due to "security concerns". Green Party German Economy and Climate Protection Minister Robert Habeck proposed to the German Council of Ministers to ban the Chinese company from buying the chip factory in question. According to the ministry, the acquisition of the chip factory by China will endanger public order and safety in Germany.

Security concern in germany

Elmos had agreed to sell its Dortmund factory to Silex Microsystems for approximately 85 million euros in December 2021. It was noteworthy that I did not approve of the sale in question, following the visit of German Chancellor Olaf Scholz to China last week. Scholz had visited Beijing to help German companies gain greater access to the Chinese market at a time when Germany's economic dependence on China was being discussed. Prime Minister Scholz authorized China earlier this month to buy a minority stake in a terminal in Germany's largest port, despite opposition from its coalition partners. On the other hand, it is stated that the German government will prevent the Chinese takeover of Bavaria-based ERS Electronic GmbH, which produces cooling systems for the chip industry.