Dutch chipmaker Nexperia claimed that Chinese owner Wingtech Technology Co. was pushing for technology transfers out of Europe and threatening executives in a highly charged court hearing Wednesday that laid bare how deep and personal a dispute over control has become.
In its bid to regain shareholding rights, Wingtech pushed back by attacking Nexperia’s European management, claiming that the company was performing well before the court’s intervention. It refuted claims that Nexperia was being “emptied out” and said the developments raise major questions about its “unequal treatment” as a Chinese investor.
After ordering Wingtech’s shares to be put under control of independent trustees in October, the Amsterdam Enterprise Chamber is weighing whether to open an investigation into how the chipmaker was managed by Wingtech’s founder, Zhang Xuezheng, who was suspended as Nexperia’s chief executive officer by the court.
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