Honeywell takes hold of Mitsubishi's stake in Gem Microelectronic

Honeywell has acquired Mitsubishi Chemical America's 40 percent stake in GEM Microelectronics Materials, giving Honeywell sole ownership of the venture. Honeywell is a manufacturer of chemicals for the semiconductor industry. GEM Microelectronics Materials was formed in 2001 when Mitsubishi and Honeywell combined their wet-process chemicals businesses.

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 the use of GEM name and market the products under its Honeywell Electronic Materials business, with expertise in both chemistry and metallurgy. Honeywell employs about 1,200 people; and supplies both front-end (wafer production) and back-end (packaging).

"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.