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Entegris sells non-core MFC & gas delivery line to Celerity |
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Feb 07, 2006 at 10:26 AM |
Entegris, has sold its gas delivery product line to Celerity for $15.6
million in cash as part of a strategy to off-load what it deems to be
three non-core businesses. The product line includes mass flow
controllers, vacuum gauges, pressure transducers, and other components
related to semiconductor gas delivery systems.
Entegris is also transferring its manufacturing facility in Allen,
Texas and gas delivery service centers in Shanghai and Taiwan to
Celerity.
"The sale of the gas delivery product line marks an important
strategic step as we continue to unlock the value of Entegris and to
enhance our operating results. With the divestiture program behind us,
we are working to capitalize on growth opportunities," said Gideon
Argov, president and CEO of Entegris. "In doing so, we will leverage
our core materials integrity management products and technologies to
solve the industry's most challenging contamination control issues and
help improve our customers' yields."
"This transaction is an outstanding opportunity for Celerity and a
positive step for our customers, partners and suppliers," stated David
Shimmon, Chairman and CEO of Celerity. "The acquisition will allow us
to increase our operational leverage, strengthen our technology
development activities, and significantly enhance our intellectual
product portfolio."
Celerity, based in Milpitas, California, was bought by Texas Pacific Group from Kinetics in 2004.
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