Three bidders compete for BelGaN's semiconductor facility
The production site in Oudenaarde, Belgium, of bankrupt BelGaN has reportedly attracted interest from three potential buyers, with two bidders based in Asia and one in Europe.
According to the court-appointed curator, these proposals align with the required financial and contractual conditions, including a set minimum price and payment assurances. While the facility has been valued at approximately EUR 20 million, exact bidding figures remain undisclosed.
"The court still needs to authorise us to proceed with a private sale, but we are confident a decision will be made soon," curator Ali Heerman told The Brussels Times.
While the identities of the bidders remain undisclosed, Heerman noted that some aim to restart semiconductor production, potentially expanding the workforce to over 250 employees within three years, while others may repurpose the facility for alternative industrial activities.
As previously reported by Evertiq, in the aftermath of the bankruptcy, an online auction was held in late 2024, generating approximately EUR 23 million. A substantial portion of the high-tech equipment was acquired by Chinese companies, with authorities reviewing export restrictions on certain assets. The site itself remained available for purchase until the recent bidding deadline.
Heerman told The Brussels Times that a final sale is expected to be completed by April, pending court authorization.
Once Belgium’s last operational industrial chip manufacturer, BelGaN ceased operations last year following financial difficulties. The company’s significant investments in gallium nitride (GaN) technology did not yield the anticipated returns quickly enough, leading to insolvency and the loss of 440 jobs.
According to a report from De Tijd, citing undisclosed sources, Swedish MEMS foundry Silex Microsystems is one of the interested parties.