Event in Colorado Springs highlighted the
importance of building a strong U.S. semiconductor manufacturing
infrastructure to support future industry growth.
Entegris (Nasdaq: ENTG), a global leader in advanced materials
science, today celebrated its award of CHIPS Act funding at its
Colorado Springs construction site with several federal, state, and
local government guests in attendance.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240718730492/en/
Federal, state, and local government
guests joined Entegris to celebrate funding under the Chips Act.
From left to right: Bill Shaner, SVP and President of Advanced
Materials Handling (AMH) of Entegris; Dr. Laurie Locascio, Under
Secretary of Commerce for Standards and Technology and the director
of the National Institute of Standards and Technology (NIST); Cami
Bremer, Chair of El Paso County Commission; Yemi Mobolade, Mayor of
Colorado Springs; Bertrand Loy, President and Chief Executive
Officer of Entegris; Jared Polis, Governor of Colorado; Arati
Prabhakar, Ph.D., Director of the White House Office of Science and
Technology Policy and Assistant to the President for Science and
Technology; Johnna Reeder Kleymeyer, President and CEO of Colorado
Springs Chamber of Commerce and Economic Development Corporation
(Photo: Entegris)
On June 26, Entegris and the U.S. Department of Commerce
announced entry into a non-binding Preliminary Memorandum of Terms
(PMT) for up to $75 million in proposed direct funding to Entegris
under the CHIPS and Science Act. This funding would support the
development of Entegris’ state-of-the-art facility in Colorado
Springs designed to create products critical to the future of
semiconductor manufacturing in the U.S.
The commemorative event included remarks from:
- Arati Prabhakar, Ph.D., Director of the White House Office of
Science and Technology Policy (OSTP) and Assistant to the President
for Science and Technology
- Dr. Laurie Locascio, Under Secretary of Commerce for Standards
and Technology and the director of the National Institute of
Standards and Technology (NIST)
- Jared Polis, Governor of Colorado
- Cami Bremer, Chair of El Paso County Commission
- Yemi Mobolade, Mayor of Colorado Springs
- Johnna Reeder Kleymeyer, President and CEO of Colorado Springs
Chamber of Commerce and Economic Development Corporation
- Bertrand Loy, President and Chief Executive Officer of
Entegris
- Bill Shaner, SVP and President of Advanced Materials Handling
(AMH) of Entegris
“The CHIPS Act is not just about increasing production – it’s
about building resilient infrastructure that supports the entire
semiconductor ecosystem,” said Bertrand Loy, president and chief
executive officer at Entegris. “The U.S. semiconductor industry's
strength hinges on a reliable and advanced domestic supply chain of
critical process chemistries and solutions, and this initiative is
instrumental in making that vision a reality. We are honored to
receive this funding and to be recognized as a pivotal player in
the semiconductor ecosystem as the first materials supplier awarded
funding through this federal initiative.”
Arati Prabhakar, Assistant to the President for Science and
Technology and Director of the White House Office of Science and
Technology Policy said, “Under President Biden’s leadership, we’re
creating a new chapter in semiconductor manufacturing in America.
Through the President’s CHIPS and Science Act, we’re teaming with
companies like Entegris to strengthen the semiconductor supply
chain here at home. This is exactly what we need to compete in the
global economy, bolster our national security, and create good jobs
that support families in Colorado and across the country.”
Entegris’ new Colorado Springs manufacturing center of
excellence in Colorado Springs will support the company’s Advanced
Materials Handling (AMH) and Microcontamination Control (MC)
divisions. The facility, which is targeted to begin initial
commercial operations in 2025, will be built in multiple phases:
the first phase will support production of FOUPs (Front Opening
Unified Pods) – which are currently only produced abroad – and
liquid filter membranes, and the second phase will support the
production of advanced liquid filters, purifiers, and fluid
handling solutions.
The construction and operation of the facility will align with
Entegris’ comprehensive Corporate Social Responsibility framework,
emphasizing environmental sustainability. By 2030, Entegris has
established a sustainability goal to reduce its greenhouse gas
emissions (both Scope 1 and Scope 2) by 42% from the 2020 baseline.
The Colorado Springs facility will contribute to the achievement of
this goal. Entegris also plans to include facility designs that
prioritize water recovery and recycling measures to reduce
dependency on freshwater and to recycle 80% of process water.
Entegris is partnering with Microchip Technology Inc., Pikes
Peak State College, Pikes Peak Business and Education Alliance, as
well as various high school districts and universities to
collaborate on workforce development and create a self-sustaining
ecosystem in Colorado Springs and the Mountain West region.
Entegris also is continuing its support of STEM with current
scholars at University of Colorado School System, School of Mines,
and through the Denver Scholarship Foundation, as well as
opportunities for continued education through tuition reimbursement
and grants with Colorado Technical University.
In addition, Entegris’ project will be a Military Center of
Excellence that aims to recruit 50% of its workforce from veterans
and military families through partnerships with Hiring our Heroes,
Mt. Carmel Veterans Service Center, the SEMI Veteran Foundation and
local military bases.
About Entegris
Entegris is a leading supplier of advanced materials and process
solutions for the semiconductor and other high-tech industries.
Entegris has approximately 8,000 employees throughout its global
operations and is ISO 9001 certified. It has manufacturing,
customer service and/or research facilities in the United States,
Canada, China, Germany, Israel, Japan, Malaysia, Singapore, South
Korea, and Taiwan. Additional information can be found at
www.entegris.com.
Cautions Regarding Forward Looking
Statements
This news release contains “forward-looking statements.” The
words “believe,” “expect,” “anticipate,” “intend,” “estimate,”
“forecast,” “project,” “should,” “may,” “will,” “would” or the
negative thereof and similar expressions are intended to identify
such forward-looking statements. These forward-looking statements
may include statements about fluctuations in demand for
semiconductors; global economic uncertainty and the risks inherent
in operating a global business; supply chain matters; inflationary
pressures; future period guidance or projections; the Company’s
performance relative to its markets, including the drivers of such
performance; market and technology trends, including the duration
and drivers of any growth trends; the development of new products
and the success of their introductions; the focus of the Company’s
engineering, research and development projects; the Company’s
ability to obtain, protect and enforce intellectual property
rights; information technology risks; the Company’s ability to
execute on our business strategies, including with respect to
manufacturing delays and the Company’s expansion of its
manufacturing presence in Taiwan and in Colorado Springs; the
Company’s capital allocation strategy, which may be modified at any
time for any reason, including with respect to share repurchases,
dividends, debt repayments and potential acquisitions; the impact
of the acquisitions and divestitures the Company has made and
commercial partnerships the Company has established, including the
acquisition of CMC Materials, Inc. (now known as CMC Materials LLC)
(“CMC Materials”); the amount of goodwill we carry on our balance
sheets; key employee retention; future capital and other
expenditures, including estimates thereof; the Company’s expected
tax rate; the impact, financial or otherwise, of any organizational
changes or changes in the legal and regulatory environment in which
we operate; the impact of accounting pronouncements; quantitative
and qualitative disclosures about market risk; climate change and
our environmental, social and governance commitments; and other
matters. These forward-looking statements are based on current
management expectations and assumptions only as of the date of this
news release, are not guarantees of future performance and involve
substantial risks and uncertainties that are difficult to predict
and that could cause actual results to differ materially from the
results expressed in, or implied by, these forward-looking
statements. These risks and uncertainties include, but are not
limited to, weakening of global and/or regional economic
conditions, generally or specifically in the semiconductor
industry, which could decrease the demand for the Company’s
products and solutions; the level of, and obligations associated
with, the Company’s indebtedness, including the debts incurred in
connection with the acquisition of CMC Materials; risks related to
the acquisition and integration of CMC Materials, including
unanticipated difficulties or expenditures relating thereto, the
ability to achieve the anticipated synergies and value-creation
contemplated by the acquisition of CMC Materials and the diversion
of management time on transaction-related matters; raw material
shortages, supply and labor constraints, price increases,
inflationary pressures and rising interest rates; operational,
political and legal risks of the Company’s international
operations; the Company’s dependence on sole source and limited
source suppliers; the Company’s ability to meet rapid demand
shifts; the Company’s ability to continue technological innovation
and introduce new products to meet customers’ rapidly changing
requirements; substantial competition; the Company’s concentrated
customer base; the Company’s ability to identify, complete and
integrate acquisitions, joint ventures, divestitures or other
similar transactions; the Company’s ability to effectively
implement any organizational changes; the Company’s ability to
protect and enforce intellectual property rights; the impact of
regional and global instabilities, hostilities and geopolitical
uncertainty, including, but not limited to, the ongoing conflicts
between Ukraine and Russia, between Israel and Hamas and other
tensions in the Middle East, as well as the global responses
thereto; the increasing complexity of certain manufacturing
processes; changes in government regulations of the countries in
which the Company operates, including the imposition of tariffs,
export controls and other trade laws, restrictions and changes to
national security and international trade policy, especially as
they relate to China; fluctuation of currency exchange rates;
fluctuations in the market price of the Company’s stock; and other
risk factors and additional information described in Entegris’
filings with the U.S. Securities and Exchange Commission (the
“SEC”), including under the heading “Risks Factors” in Item 1A of
Entegris’ Annual Report on Form 10-K for the fiscal year ended
December 31, 2023, filed with the SEC on February 15, 2024, and in
Entegris’ other SEC filings. Except as required under the federal
securities laws and the rules and regulations of the SEC, Entegris
undertakes no obligation to update publicly any forward-looking
statements or information contained herein, which speak as of their
respective dates.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240718730492/en/
Media: Connie Chandler Senior Director of Corporate
Communications +1 978 436 6546 connie.chandler@entegris.com
Investor: Bill Seymour VP of Investor Relations, Treasury
& Communications + 1 952 556 1844 bill.seymour@entegris.com
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