Form 8-K · Current Report · Filed 2024-03-04
Entegris Completes Sale of Pipeline and Industrial Materials Business
On March 4, 2024, Entegris, Inc. completed the sale of its Pipeline and Industrial Materials (PIM) business to SCF Partners, Inc. for up to $285 million, which includes $260 million in cash received at closing and a $25 million earnout based on future financial performance. As a result, Entegris updated its first-quarter 2024 guidance, expecting sales between $755 million and $775 million, GAAP net income between $49 million and $57 million, and non-GAAP net income between $89 million and $97 million. The transaction will be used for further debt reduction.
- Filer
- Entegris Inc. ENTG · NASDAQ
- Filed
- Accession
- 0001140361-24-010926
- CIK
- 0001101302
- Signal
- Low impactTechnology
- Source
- Official filing on sec.gov ↗
Items reported
Regulation FD Disclosure
Financial Statements and Exhibits
Market reaction
Close before filing
$138.56
Next session
-2.1%
Since filing
-14.1%
Latest close
$119.05
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Precedent
Previous filings from ENTG reporting the same item, with the next session's move:
Exhibits (1)
About Entegris Inc.
Entegris Inc. is a specialized technology and manufacturing company that focuses on providing advanced materials and process solutions for the microelectronics industry. Its primary function is to supply critical components and materials used in the semiconductor manufacturing process, including filtration, purification, and specialty chemicals. Entegris plays a pivotal role in enabling the complex manufacturing processes of semiconductor fabrication, catering to manufacturers of integrated circuits and electronics devices. Notable sectors impacted by Entegris include computing, telecommunications, and automotive industries, where semiconductors are essential. The company's solutions are essential for ensuring the purity and integrity of materials used in chip production, which directly impacts the performance and efficiency of electronic devices. Founded in 1966 and headquartered in Billerica, Massachusetts, Entegris has established itself as a significant player in the global semiconductor supply chain, emphasizing innovation and quality in its product offerings. Its role is crucial for advancing technology nodes and meeting the high demands of modern semiconductor fabrication processes.
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