LEHIGH VALLEY, Pa. (AP) — Industrial gas supplier Air Products and Chemicals Inc. said Wednesday that it has acquired Poly-Flow Engineering LLC, a manufacturer of equipment for the semiconductor industry.
Terms of the transaction with Poly-Flow and its previous owner, Ktech Corp., were not disclosed.
Poly-Flow, based in Albuquerque, N.M., makes equipment focused on chemical delivery and cleaning for semiconductor manufacturers. The 100-employee company also sells equipment to the medical, optical fiber and solar industries.
Jae Woon You, general manager for Air Products' electronics equipment business, said the acquisition should immediately add to the company's earnings.
The announcement of the deal to acquire Poly-Flow came four months after Air Products abandoned its unsolicited takeover bid for rival Airgas Inc. The Airgas board had opposed the deal, arguing that shareholders would fare better if the company remained independent.
Shares of Air Products fell $2.36, or 2.5 percent, to close at $90.90.
