President Donald Trump on Friday blocked U.S. photonics firm HieFo Corp from completing its $3 million acquisition of assets from New Jersey–based aerospace and defense company Emcore, citing national security concerns and links to China.
In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China”, and that its 2024 purchase of Emcore’s businesses raised concerns it could take actions “that threaten to impair the national security of the United States.”
The order did not identify the individual involved or specify the precise nature of the security risks.
“The Transaction is hereby prohibited,” Trump said, directing HieFo to divest all interests and rights in the Emcore assets worldwide within 180 days.
The Committee on Foreign Investment in the United States (CFIUS) identified a national security risk during its review of the deal, the Treasury Department said, without providing further details.
HieFo and Emcore were not immediately available for comment and had not posted public responses as of late Friday.
Emcore, which was publicly traded at the time of the transaction and later taken private, said HieFo acquired its chip business and indium-phosphide wafer-fabrication operations for $2.92 million.
HieFo said at the time that it was co-founded by Genzao Zhang, a former vice president of engineering at Emcore, and Harry Moore, whose LinkedIn profile lists him as a former senior sales director at Emcore.
Sources: Reuters
THE ETERNAL SOVEREIGN 