Honeywell, Mitsubishi To Combine Wet-Process Chemicals

Morris Township, N.J.-based Honeywell and Mitsubishi Chemical Corp., Tokyo, plan to form a global alliance combining their wet-process chemicals businesses. The alliance will result in a global manufacturer of high-purity wet-process chemicals with production facilities in key regions of the world including the U.S., Europe, Taiwan, and Japan, according to the companies. The combined group also will develop manufacturing plants in Southeast Asia. Wet-process chemicals are used in various steps of the semiconductor manufacturing process. The demand is rising for high-purity wet-process chemicals as manufacturing activity in the global semiconductor industry continues to increase. "The alliance creates the first truly global wet-process chemicals provider serving the semiconductor industry," says Fred Lynch, vice president/general manager at Honeywell Chemical Specialties, a business within Honeywell Specialty Chemicals. "The product and service offerings of both partners are highly complementary and will provide a comprehensive one-stop solution to our semiconductor industry customers." The transaction is expected to close later this year. Financial terms were not disclosed. Honeywell is a US$24-billion diversified technology and manufacturing company, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. Mitsubishi Chemical Corp. is a diversified chemical group with consolidated annual turnover of about $US16-billion. It serves worldwide customers with petrochemicals, carbon products, agricultural chemical products, information and electronics products and systems, pharmaceuticals, specialty products, and various types of composite materials.