By David Shepardson.
WASHINGTON (Reuters) -The White House plans to announce that Dutch chipmaker Nexperia’s China facilities will resume shipments, a source familiar with the situation told Reuters, in a key boost for auto manufacturers worldwide.
The company produces large volumes of chips in the Netherlands that are widely used in autos and consumer electronics. Some 70% of the Netherlands-produced chips are packaged in China and sold mostly to distributors.
Since earlier this month, Nexperia has been locked in a dispute with its Chinese unit after the Dutch government took control of Nexperia from its Chinese owner Wingtech Technology on September 30. It also removed its Chinese CEO, citing concerns its technology could be appropriated by Wingtech.
On October 4,…more
Source finance.yahoo.com
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