- Chinese chip manufacturer Yangtze Memory Technologies Corp ousted American employees in key technology positions after the US embargo on China.
- Several US citizens and green card holders in China had already left the memory chip manufacturer Financial Times reported.
- Some Americans were reportedly key to YMTC’s breakthroughs in Nand memory chip production.
- Also read: Taiwan Semiconductor bears the brunt of US-China tensions and cuts 2022 budget by 10%
- Leading US chip equipment suppliers Lam Research Corp LRCX, Applied Materials, Inc AMATand KLA Corp KLAC have suspended sales and services to semiconductor manufacturers in China.
- Based in the Netherlands ASML Holding NV ASML asked its US staff to stop serving all Chinese customers in the meantime assess the sanctions.
- Longtime YMTC CEO Simon Yang, a US passport holder, resigned before the sanctions reportedly prompted by mounting Washington pressure on the company.
- Yang transitioned from chief to vice chairman at the end of September. His current role in the company remained open.
- YMTC was about to fill a spot for its semiconductors Apple Inc AAPL iPhone this summer until the sanctions kicked in.
- YMTC reportedly negotiated the exit of several Americans who were unwilling to give up their US passports.
- Chinese semiconductor companies not only focused on “US-free” manufacturing lines, but also on “de-Americanizing teams” as they were already struggling to find experienced workers.
- Corporate records in China show that Americans occupy the top ranks of China’s top semiconductor manufacturers and suppliers.
© 2022 Benzinga.de. Benzinga does not provide investment advice. All rights reserved.
