Mergers & Acquisitions
transaction value was $400mn. ChemFirst includes two semiconductor
fabrication materials businesses and a chemical intermediates business. The
two semiconductor fabrication businesses will operate as EKC Technology and
Electronic Polymers and the chemical intermediates unit will operate as
First Chemical Corporation.
ChemFirsts has 480 employees with primary manufacturing facilities in
Missourri, Texas, Ohio, California, Scotland and Japan.
Axsys Technologies has sold substantially all of its fibre automation assets
to Palomar Technologies. Axsys discontinued its Automation Group activities
in Q3 2002.
Palomar Technologies intends to continue to operate the business and support
all ongoing customer relationships. A new organization, Palomar Photonics
Automation, will continue engineering and manufacturing operations in
Pennsylvania as a wholly-owned subsidiary. Patents and intellectual property
relating to nano-positioning and fibre alignment were included in the
purchase. Substantially all former Axsys fibre automation employees are
being retained by Palomar.
Daw Technologies has sold all of the assets of its Intelligent Enclosures
business unit to a group of former managers. Daw will continue to provide
manufacturing services for Intelligent Enclosures. The business produces
clean minienvironments.
