Arch Chemicals completes divestment of its 50 percent share in Planar Solutions CMP joint venture
Arch Chemicals, Inc. reported completion of the previously announced divestiture of its 50 percent share in Planar Solutions to FUJIFILM Electronic Materials U.S.A., Inc., a U.S. subsidiary of Fuji Photo Film Co., Ltd., for approximately $17 million, consisting of $10 million in cash and the assumption of approximately $7 million of guarantees of the joint venture's debt.
Planar Solutions, a joint venture with Wacker Chemical Corporation for the production of chemical mechanical planarization (CMP) slurries sold to semiconductor manufacturers, has manufacturing and customer-support facilities in Adrian, Michigan, and Mesa, Arizona.
The Company expects to record a pretax gain of approximately $10 million on this transaction. The Company reported equity in earnings of $0.5 million for the nine months ended September 30, 2005 for its share in Planar Solutions.
Other news from the department business & finance
