Entegris to sell electronic chemicals business to Fujifilm for $700 mln (updated)

Entegris

10/05/2023 08:35

(Adds details from companies' statements throughout)
       May 10 (Reuters) - Chip material supplier Entegris
 ENTG.O  on Wednesday said it will sell its electronic chemicals
business to Japan's Fujifilm  4901.T  for $700 million and use
the proceeds to accelerate debt payments.
        Entegris, based in Billerica, Massachusetts, acquired
the business when it bought rival CMC Materials in a $6.5
billion deal in 2021, which was partly financed using debt. 
  
        The business offers chemicals used in semiconductor and
micro-electronic manufacturing processes.
  
        Separately, Fujifilm said the deal will provide it with
12 additional sites, including seven manufacturing locations
across the United States, Europe and Singapore. The Japanese
company will also add 560 employees, it said.
  

 (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Sonia
Cheema)
 ((rishabh.jaiswal@thomsonreuters.com;))