Entegris, Inc. (NASDAQ: ENTG) shares began Monday much higher, after the company announced the closing of the sale of its Electronic Chemicals business to Fujifilm. Entegris sold the Electronic Chemicals business for $700 million in cash, subject to customary adjustments. The transaction was originally announced on May 10.
The Electronic Chemicals business was a part of the company’s Advanced Planarization Solutions (APS) division and was acquired by Entegris with the acquisition of CMC Materials in July 2022. The sale of this business further streamlines Entegris’ portfolio following the CMC Materials acquisition. Proceeds of this transaction will be used for debt paydown.
Entegris is a leading supplier of advanced materials and process solutions for the semiconductor and other high-tech industries. Entegris has approximately 9,000 employees throughout its global operations and is ISO 9001 certified. It has manufacturing, customer service and/or research facilities in the United States, Canada, China, Germany, Israel, Japan, Malaysia, Singapore, South Korea, and Taiwan.
Entegris reminds users of its wsebsite, “Because rapid innovation is paramount. Quality is critical. And collaboration is key. Together, we can solve your most advanced technology challenges.
“Through our technology expertise and strong employee culture, we provide science-based solutions to help you tackle your most advanced manufacturing challenges.”
ENTG gained 84 cents to $94.75.
