By Rhea Healy2016-06-28T17:17:00+01:00
Air Products’ intended spin-off of its Materials Technologies’ Electronic Material Division (EMD) has announced that upon becoming a standalone company it will be headquartered in Arizona.
The independent business will be a global, specialty solutions business named Versum Materials.
Guillermo Novo, set to become CEO of Versum Materials, stated, “Part of our overall strategy as a separate company is to be more market facing and agile by co-locating our business capabilities closer to the companies we serve. Our focus is on serving our semiconductor customers.
Locating in Tempe (Arizona) will allow us to improve our connectivity with both our US and Asia teams and customers
“We have existing Electronic Materials production, research and development, and a workforce in Tempe, and our major US customers are located in the Western US. Additionally, over 70% of the market is now in Asia and it continues to grow. Locating in Tempe (Arizona) will allow us to improve our connectivity with both our US and Asia teams and customers. This decision is part of a broader plan to be closer to our customers and position Versum for success.”
The complete business separation from the Tier One corporation is currently intended for September this year.
The new company formed from Air Products’ planned spin-off of its Materials Technologies business will be called Versum Materials, it is announced.
Air Products’ world-class SMR will produce hydrogen and carbon monoxide (CO) to be supplied to Covestro and other customers linked to Air Products’ Gulf Coast Hydrogen and CO Pipeline Networks. The plant, which will start-up in 2018, is already completely sold out.
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