MKS Instruments, a supplier to Taiwan Semiconductor Manufacturing Company, is selling a $1bn speciality chemicals division in a bid to focus its operations on supplying chipmakers, according to people familiar with the matter.
The Massachusetts-based technology group, which specialises in advanced manufacturing equipment crucial to the semiconductor supply chain, is working with advisers to divest the division, which it acquired as part of its $5.1bn takeover of Atotech in 2021.
The unit, which generates about $100mn in adjusted earnings a year, focuses on supplying technology used to apply coatings and finishes to automobiles and industrial equipment. MKS will hold on to the remainder of the division that provides equipment used to produce semiconductors and circuit boards.