Norstel snapped up by Chinese semiconductor investment fund An Xin.

An Xin Capital LLP, a Xianmen, China-bsed investment fund announced it acquired all shares in Norstel AB.

An Xin Capital LLP is a Chinese investment fund focused on semiconductor industry and especially semiconductor compound semiconductors.

Norstel AB, based in Norrköping, Sweden is a manufacturer of conductive and semi-insulating silicon carbide wafers and SiC single-crystal 4H epitaxial layers deposited by CVD epitaxy. The company was was backed by public and private investors including Swedish state-owned Fouriertransform, Creandum, Northzone and Eqvitec.

Norstel, based in Norrköping, develops and manufactures the silicon carbide material in the form of crystals, slices and surface layers. The main products are substrates for the production of diodes and transistors for energy efficient electronics. In recent years, Norstel has developed and launched new products that attracted significant interest in the market, which led to strong growth and investment in increased production capacity.

Through An Xin, Norstel gets a strong owner who gives the company good opportunities to grow further and to establish itself in the Chinese market.

An Xin has expressed its intention to continue developing Norstel towards a market-leading position. For the operations in Norrköping, ownership change does not mean any major changes, but investments are planned for increased productivity and capacity in both Sweden and China.