Struggling German firm Aixtron has had several setbacks recently. Last May it reached agreement with Germany-based GCI, owned by Chinese investment company Fujian Grand Chip, for a takeover of Aixtron SE. However, in October the US government blocked the deal, citing security reasons (Vol 23 No 48), as Aixtron’s technology is used in missile defence systems. GCI subsequently pulled out of the deal (Aixtron Sale Blocked in US). Aixtron currently holds 41% of the market for LED chip making equipment, but without the GCI deal, it believes it must choose between investing limited funds in new technology while hoping for a recovery, or downsizing.
The company has decided to delist from NASDAQ and deregister with the SEC. Its shares will still be on the Frankfurt Stock Exchange where most of its investor business is conducted.
