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AirProducts Acquires DuPont's Stake in NanoMaterials Joint Venture

Air Products (NYSE:APD), Lehigh Valley, PA, has acquired DuPont's interest in DuPont Air Products NanoMaterials LLC (DA NanoMaterials), the two companies' 50-50 joint venture serving the global semiconductor and wafer polishing industries. Terms of the agreement were not disclosed.

Headquartered in Tempe, AZ, with regional headquarters in Hsinchu County, Taiwan, DA NanoMaterials manufactures chemical mechanical planarization (CMP) slurries for the semiconductor and wafer polishing industries.

"This acquisition helps broaden our strategy of delivering a portfolio of differentiated offerings to our semiconductor customers," said Wayne Mitchell, vice president and general manager, Electronics, for Air Products. "We will continue to work with our customers to develop new materials and delivery systems for the semiconductor industry that enable next generation devices such as smart phones and tablets."

The current market for CMP and wafer polishing slurries is valued at more than $1 billion and is growing two times as fast as the underlying semiconductor MSI index, which measures millions of square inches of silicon shipped.

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