Danbury industrial-gas maker Praxair Inc. has sold a unit that makes equipment for producing microchips to one of Japan’s biggest technology manufacturers.
Separately, Praxair says it will issue $600 million of 2.45 percent notes due Feb. 15, 2022, proceeds to be used to retire short-term debt, fund its stock buyback and for general corporate purposes. The debt offering is set to close Monday.
FM Industries Inc. of Fremont, Calif., a unit of NGK Insulators of Japan, bought Praxair’s advanced components business for an undisclosed sum.
The business makes electrostatic chucks (ESCs) and critical chamber components for semiconductor processing equipment. ESCs are used in etch, chemical vapor deposition and physical vapor deposition tools, ion implanters and metrology tools.
The business also provides high-precision thermal spray coating services of ESCs and chamber components to improve tool performance and reduce the cost of ownership.
The advanced components unit employs some 70 people at plants in Poughkeepsie, N.Y., and Phoenix, and had 2011 sales of $28 million.
FM Industries makes machined parts for the semiconductor-equipment industry.
The offering is led by Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc.
