UPDATE: Praxair Sells Advanced Components Business; Terms Not Disclosed
Praxair, Inc. (NYSE: PX) has executed a definitive agreement by which Praxair sold its advanced components business to FM Industries, Inc. of Fremont, Calif. FM Industries is a wholly-owned subsidiary of NGK Insulators of Japan. Terms of the transaction were not disclosed.
The advanced components business designs, engineers, manufactures and supplies electrostatic chucks (ESCs) and critical chamber components for semiconductor processing equipment. ESCs are used in etch, chemical vapor deposition and physical vapor deposition tools, ion implanters and metrology tools. The business also provides high-precision thermal spray coating services of ESCs and chamber components to improve tool performance and reduce the cost of ownership. The business employs approximately 70 people and generated sales of $28 million during 2011. Under the agreement, FM Industries, Inc. acquires operating facilities in Poughkeepsie, N.Y. and Phoenix, Ariz
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