July 12--Versum Materials Inc. said Tuesday it plans to acquire an Indianapolis specialty-chemical company in a deal estimated at approximately $13 million.
In a news release, Versum said it expects to close the acquisition of Dynaloy LLC during the fourth quarter. The electronic materials company, which spun off last fall from Trexlertown's Air Products and is based in Tempe, Ariz., also said it will pay cash and expects the deal to be accretive to earnings in the first full year of operation.
Dynaloy manufactures advanced cleaning solutions used for the semiconductor and specialty manufacturing industries. The company was acquired in August 2011 by Eastman Chemcial Co. of Kingsport, Tenn., according to the company's website.
Edward Shober, senior vice president at Versum Materials, said the acquisition will boost Versum's strategy to enhance its specialty manufacturing technology capabilities. Versum uses the technology to etch and remove residue and contamination during multiple steps of the integrated circuit fabrication process. After closing, Dynaloy's business will be integrated into Versum's portfolio of surface and prep and clean materials.
Versum has about 300 employees at several Lehigh Valley locations. The company announced in March that it was expanding its manufacturing operations in south Allentown and planned to add jobs.
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