AMSTERDAM, Feb 16 (Reuters) - Dutch state-owned finance institution Invest International will provide chipmaker Nexperia with a $60 million loan to support a series of global investments in its
Nexperia Secures $60 Million Loan from Invest International for Chip Production
Nexperia's Funding and Production Plans
AMSTERDAM, Feb 16 (Reuters) - Dutch state-owned finance institution Invest International will provide chipmaker Nexperia with a $60 million loan to support a series of global investments in its production sites, it said in a statement on Monday.
Purpose of the Loan
The funding is meant to help boost output, modernise production lines and improve efficiency.
Corporate Challenges and Management
Netherlands-based Nexperia, a unit of China's Wingtech, found itself in a prominent corporate standoff between Europe and China after a Dutch state intervention last year installed a European management team.
Future Financing Negotiations
The move triggered a crisis that disrupted global supplies of basic chips for the car industry and, according to Dutch newspaper FD, scared away investors.
FD said other financing negotiations for Nexperia are underway, citing a spokesperson.
"It's not that Nexperia is in dire straits, but any source of funding we can tap into that would preserve our own reserves for other, ongoing activities is, of course, very welcome," the spokesperson said, according to the report.
Nexperia could not immediately be reached for comment.
Last week a Dutch court ordered an investigation into mismanagement at Nexperia. It allowed the European management team to stay in place.
(Reporting by Charlotte Van Campenhout; Editing by Jan Harvey)
