Onsemi completes acquisition of GlobalFoundries fabrication facility in New York - Phoenix Business Journal

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The Phoenix tech company is reportedly hiring hundreds of former workers at the New York semiconductor production facility. phoenix $ON $GFS

Onsemi has completed its acquisition of GlobalFoundries Inc.’s semiconductor factory in East Fishkill, New York in a deal valued at more than $430 million.

"The company is excited about what the addition of the East Fishkill fab brings to Onsemi and will share more details in a future announcement,” Mark Mingura, spokesman for Onsemi, said in an email to the Business Journal. Onsemi is reportedly rehiring more than 1,000 of GlobalFoundries’ employees upon taking over the facility, where it will focus on expanding its products used in electric vehicles, 5G mobile networks, industrial automation and cloud infrastructure. GlobalFoundries purchased the East Fishkill facility from IBM in 2015, according to the Times Union.

Source: News Formal (newsformal.com)


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