TOKYO -- Tokyo Electron has struck a deal to sell U.S. subsidiary TEL NEXX to Singapore-based ASM Pacific Technology for $90 million, aiming to boost profitability by concentrating on earlier portions of the semiconductor manufacturing process.
TEL NEXX specializes in equipment that deposits metal such as wiring and films on semiconductors. The sale is slated for completion in late 2018, Tokyo Electron said Wednesday.
The Japanese manufacturer of chipmaking equipment said it is examining the deal's impact on earnings for the fiscal year ending in March 2019 and will disclose any effects on the company's forecasts.
ASM Pacific, a leading producer of semiconductor assembly and packaging equipment, reported sales of $2.25 billion for 2017.