Honeywell today announced that it has acquired Mitsubishi Chemical America’s 40 percent stake in GEM Microelectronics Materials, giving Honeywell sole ownership of the venture, which manufactures chemicals for the semiconductor industry. Financial terms of the deal were not disclosed.
GEM Microelectronics Materials was formed in 2001 when Mitsubishi and Honeywell combined their wet-process chemicals businesses. The business has annual revenues of $40 million.
The business’ core competency is its ultra-high purity straight, wet-etch and cleaning chemistries. Wet cleaning chemistries are used in nearly every stage of semiconductor production. The business has also recently expanded its product portfolio to include performance cleans, ultra- high selective etchants and wafer-thinning products designed to meet specific customer needs.
“This acquisition further demonstrates our commitment to bringing a full range of chemical solutions to the global semiconductor industry,” said Nance Dicciani, president and CEO of Honeywell Specialty Materials. “Electronic Materials is a key growth platform for our business and we continue to invest to broaden the range of products and solutions we offer to the semiconductor industry.”
The GEM Microelectronics Materials business has headquarters and manufacturing facilities in Chandler, Arizona, as well as manufacturing operations in Bryan, and Mansfield, Texas. Honeywell intends to discontinue use of the GEM name and market the products under its Honeywell Electronic Materials business.