This is proof Aixtron's technology is important, says CEO
"As unpleasant as the decision to block the transaction is, the past few weeks have also had a positive side. Our technology's high relevance has been confirmed," CEO Martin Goetzeler told Handelsblatt.
China's Fujian Grand Chip Investment Fund dropped its 670 million euros ($712 million) takeover bid for Aixtron on Thursday, after the United States blocked the deal on security grounds.
The crux of the issue for Aixtron is that it makes devices which produce crystalline layers based on gallium nitride that are used as semiconductors in weapons systems.
Its technology is being used to upgrade U.S. and foreign-owned Patriot missile defense systems and the U.S. Treasury said the deal had been blocked due to national security risks.
"Aixtron is of central interest both to Germany and to the United States, the world's leading economy. If we needed more proof that our products have intrinsic value, we have it now," Goetzeler told Handelsblatt.
He said he would seek to leverage the focus on Aixtron's technology to safeguard the company, without being more specific. ■