Semiconductor producer BelGaN files for bankruptcy
Semiconductor producer BelGaN has filed for bankruptcy. The company, based in Oudenaarde, East Flanders, employs 440 people.
BelGaN switched its production from traditional silicon chips to gallium nitride chips, which can be used in electric chargers, electric cars and data centres.
“To finance the significant investments associated with this transition process, after the initial investment by shareholders, additional investments were sought. Several avenues were pursued in the process, unfortunately without success,” the company said in a press release.
BelGaN employs 440 staff. The management says it will look for solutions to support itsemployees.
“The management has convened a special works council and the staff have just been informed,” said Ronny Loubris of trade union ABVV. “Due to the switch to a new technology in development, the company faced a shortage of cash flow. This has now become fatal for the company.”
#FlandersNewsService | Illustration of semiconductor production © CFOTO / IMAGO
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