A European investor has reached an agreement with the curators of the bankrupt Belgian chip manufacturer BelGaN.
The still unknown buyer wants to invest between 200 million and 250 million euros in its Oudenaarde factory. This investment could lead to the creation of up to 500 jobs.
While the identity of the investor remains undisclosed at their request, the plan is to restart chip production at the site. However, it will not focus on gallium nitride (GaN) chips, the technology that ultimately led to BelGaN's financial struggles. Instead, the new production will focus on photonic chips, which have applications in artificial intelligence, data centers, and the automotive industry.
The investor has acquired the company’s premises for 20.35 million euros. The curators had been searching for a buyer since BelGaN's bankruptcy last summer, which left more than 440 employees unemployed.
Efforts to find a buyer willing to preserve the entire company were unsuccessful, leading to the sale of its expensive machinery. However, a buyer for the buildings and land has now been secured.
In mid-March, the curators revealed that three candidates had shown interest in acquiring the factory—two from Asia and one from Europe. Reports suggest that Sweden’s Silex Microsystems, a subsidiary of the Chinese group Sai Microelectronics (SMEI), was among the bidders, but no confirmation has been provided. The final investor's identity and detailed plans are expected to be revealed soon.
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