Company Enters into Definitive Agreement to Sell South Portland, Maine, USA, and Completes Sale of Belgium
March 1, 2022 – ON Semiconductor (NASDAQ: ON), a leader in smart power and smart sensing technologies, is executing its fab-liter manufacturing strategy with the ultimate goal of achieving sustainable financial performance through gross margin expansion.
Last week, the company signed a definitive agreement to divest its South Portland, Maine, USA facility. Earlier in February, ON Semiconductor completed the sale of its wafer fabrication facility in Oudenaarde, Belgium. With the transfer of production to more efficient wafer fabs within its global manufacturing network, ON Semiconductor will improve its cost structure by eliminating fixed costs associated with the sold wafer fabs and reducing the company's manufacturing unit costs.
“The proposed divestitures demonstrate that we are achieving an optimized manufacturing network while providing long-term supply assurance to our customers,” said Hassane El-Khoury, ON Semiconductor President and CEO. “These transactions provide continued employment and development opportunities for employees at the impacted facilities while also allowing ON Semiconductor to orderly transition production from these facilities to our other manufacturing operations.”
ON Semiconductor and Diodes Incorporated have reached a definitive agreement to divest ON Semiconductor’s wafer manufacturing facility and operations in South Portland, Maine. Diodes plans to expand capacity at its 200mm wafer fab to support growth in its analog products. The transaction is expected to close in the second quarter of 2022.
On February 8, 2022, ON Semiconductor completed the sale of its production facility in Oudenaarde, Belgium, to BelGaN Group BV, a consortium of investors and executives with extensive expertise in the semiconductor field. BelGaN plans to become Belgium's leading 6-inch and 8-inch gallium nitride (GaN) foundry.
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