Entegris and Element Solutions Terminate Distribution Agreement
05 Junio 2023 - 6:30AM
Business Wire
Entegris to receive $200 million in exchange
for ending exclusive ViaForm® copper damascene products
distribution arrangement
Entegris, Inc. (NASDAQ: ENTG), a leading supplier of advanced
materials and process solutions for the semiconductor and other
high-tech industries, today announced that it has terminated its
distribution agreement with MacDermid Alpha Electronics Solutions,
a business unit of Element Solutions Inc (NYSE: ESI), in exchange
for $200 million. Entegris has received $170 million at closing and
the remainder will be paid at the conclusion of a transitionary
period. This distribution agreement, originally entered into in
2003, provided Entegris the exclusive right to distribute MacDermid
Enthone ViaForm® copper plating chemistries, which are used in
front-end chip making electrochemical deposition processes.
Entegris is committed to ensuring a smooth customer transition
process in connection with this transaction.
Entegris expects that the proceeds of this transaction will
contribute to further debt paydown. In 2022, the ViaForm® product
had sales of approximately $55 million.
Element Solutions is the manufacturer of the ViaForm® product
line, which Entegris has sold under a distribution agreement as a
part of Entegris’ Specialty Chemicals and Engineered Materials
(SCEM) division product offerings. This transaction is consistent
with Entegris’ focus on assets that the company believes have the
greatest long-term strategic value for Entegris and best positions
it to serve its customers with advanced materials for the
leading-edge technology nodes. This transaction does not include
any other surface preparation and integration products or other
product lines within SCEM division.
About Entegris
Entegris is a leading supplier of advanced materials and process
solutions for the semiconductor and other high-tech industries.
Entegris has approximately 9,000 employees throughout its global
operations and is ISO 9001 certified. It has manufacturing,
customer service and/or research facilities in the United States,
Canada, China, France, Germany, Israel, Italy, Japan, Malaysia,
Singapore, South Korea, the United Kingdom, and Taiwan. Additional
information can be found at www.entegris.com.
Forward-Looking Statements
Certain statements herein are “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Exchange Act. Such forward-looking
statements are often identified by words such as “anticipate,”
“approximate,” “believe,” “commit,” “continue,” “could,”
“estimate,” “expect,” “hope,” “intend,” “may,” “outlook,” “plan,”
“project,” “potential,” “should,” “would,” “will” and other similar
words or expressions. Such forward-looking statements reflect
Entegris’ current expectations or beliefs concerning future events
and actual events may differ materially from historical results or
current expectations. The reader is cautioned not to place undue
reliance on these forward-looking statements, which are not a
guarantee of future performance and are subject to a number of
uncertainties, risks, assumptions and other factors, many of which
are outside the control of Entegris. The forward-looking statements
in this document address a variety of subjects including, for
example, the receipt of the remainder of the proceeds and further
debt paydown. The following factors, among others, could cause
actual results to differ materially from those described in these
forward-looking statements: the possibility that Entegris may not
fully realize the full proceeds of the transaction; and the
reaction of stakeholders to the transaction. In addition, actual
results are subject to other risks and uncertainties that relate
more broadly to Entegris’ overall business, including those more
fully described in Entegris’ filings with the Securities and
Exchange Commission (“SEC”), including its annual report on Form
10-K for the fiscal year ended December 31, 2022 and subsequent
quarterly reports on Form 10-Q. The forward-looking statements in
this document speak only as of this date. The Company undertakes no
obligation to revise or update publicly any forward-looking
statement, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230605005306/en/
Investors: Bill Seymour VP of Investor Relations,
Treasury & Communications + 1 952 556 1844
bill.seymour@entegris.com
Media: Connie Chandler Senior Director of Corporate
Communications +1 978 436 6546 connie.chandler@entegris.com
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