Gideon Argov, president and chief executive officer, said: "Our decision to exit these product lines will allow us to focus on areas with the greatest potential for profit growth and value creation. We believe the businesses to be divested have good prospects for growth, but will be better served with other owners or partners better positioned to realize their potential."

The product lines to be divested have aggregate historical combined revenue of approximately $50 million, or 8 percent of total sales, and are not currently profitable. Where appropriate, the company intends to treat these businesses, which employ a total of approximately 350 people, or 13 percent of the current workforce, as discontinued operations in its financial reporting.

It was also noted that the cost savings from the recent merger with Mykrolis would be in the region of $20 million rather than the expected $15 million.