Praxair sells US advanced components unit to NGK
Praxair has sold its advanced components business to Fremont, Calif.-based FM Industries, a wholly-owned subsidiary of Japans NGK Insulators.
Financial terms of the transaction were not disclosed.
The advanced components business designs, engineers, manufactures and supplies electrostatic chucks (ESCs) and critical chamber components for semiconductor processing equipment.
ESCs are used in etch, chemical vapor deposition and physical vapor deposition tools, ion implanters and metrology tools.
The business also provides high-precision thermal spray coating services of ESCs and chamber components to improve tool performance and reduce the cost of ownership.
The business employs approximately 70 people and generated sales of $28 million during 2011.
Under the agreement, FM Industries acquires operating facilities in Poughkeepsie, N.Y. and Phoenix, Ariz.
We were pleased to have worked with FMI on this transaction and believe these assets and offerings are a good fit for their business going forward, said David Strauss, managing director of Praxairs electronic materials business.
Praxair remains committed to the electronics market and will continue to actively pursue opportunities in the semiconductor, display and photovoltaic industries with our gases and materials-science products and services, he added.
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