featured News

Wingtech Invites Nexperia Custodians for Talks Amid Ongoing Governance Dispute

By 69 0

Wingtech Technology, the Chinese parent company of Dutch chipmaker Nexperia, has invited the court-appointed custodians of Nexperia to discuss control of the company—seen as a potential first step toward easing months of internal tensions. The rift between Nexperia’s European management and its Chinese parent deepened after the Dutch government intervened in September, leading to a court ruling that removed Wingtech founder Zhang Xuezheng as CEO over concerns he intended to shift production to China.

Although both sides have signaled interest in dialogue, they disagree on the agenda. Nexperia says it wants talks focused on restoring normal supply chain operations, which have been hit by wafer shipment stoppages, unpaid invoices and growing chip shortages that have affected global automakers. Wingtech, however, insists discussions must first address the restoration of its ownership rights and lawful control over the company.

Court-appointed custodian Arnold Croiset van Uchelen confirmed receiving Wingtech’s invitation but declined to share details of any upcoming meeting. Meanwhile, Nexperia’s Chinese packaging arm has declared itself independent and is seeking Chinese-made wafers, while the European unit has halted shipments to China. With dwindling chip inventories, the auto industry fears fresh shortages may emerge as early as January.

Pic courtesy: google/ images are subject to copyright

News Trending

Production of Duvel beer hit by cyber-attack

By 660 0

A cyber-attack has brought production to a standstill at four breweries under the ownership of Duvel, a prominent Belgian beer company. The attack, suspected to be ransomware, occurred overnight between Tuesday and Wednesday, causing significant disruption to operations. Initially, five production facilities were affected, with only one managing to resume operations thus far.

In response to the attack, Duvel promptly activated its IT systems’ built-in command systems and alarms. These measures allowed the company’s IT department to swiftly detect the intrusion and shut down servers to mitigate further damage. Despite these efforts, production at the four Belgian production sites and one in Kansas City remains halted.

Duvel, known for its iconic brands such as Chouffe, Vedett, and Liefmans, has been a stalwart in the beer industry since its establishment in 1871. In 2022, the company reported revenue of €583 million and produced approximately 230 million liters of beer. However, the extent of the impact on the supply chain and distribution of its products following the cyber-attack remains uncertain.

The company has disclosed to local media that the incident is indeed a ransomware attack, a type of cyber-attack where hackers threaten to block or leak files unless a ransom is paid. As investigations into the attack continue, Duvel faces the challenge of restoring production at its affected facilities while ensuring the security and integrity of its IT systems against future threats.

Picture Courtesy: Google/images are subject to copyright