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Air Products spinoff Versum Materials becomes independent company

| By Mary Bailey

The former Electronic Materials business of Air Products (Lehigh Valley, Pa.; www.airproducts.com) is now a separate and independent public company:  Versum Materials, Inc.

Versum Materials officially spun off from Air Products on October 1, 2016, and has begun operations as an independent, public company.

“Today is a long-anticipated day for our customers, partners and team members. We worked hard to get to this point – and we will work just as hard in the years ahead to meet our customers’ needs for next-generation materials, equipment and expertise,” said Guillermo Novo, president and chief executive officer of Versum Materials. “As Versum, we will be more committed than ever to collaborating with our customers to make the future possible for them. We will focus on meeting the evolving needs of the semiconductor and other electronics-related industries.”

Novo said the spin-off will allow Versum to align its resources with the rapidly evolving demands of the markets it serves. “We will be able to dedicate all of our energy, research and development resources, and customer service to serve the businesses that depend on our materials, equipment and knowledge,” he said.

Versum, a leading semiconductor industry supplier, is a “focused pure play in the semiconductor industry with a strong portfolio and capabilities,” Novo said, noting that the company participates in six of seven key semiconductor process steps. Versum derived 74 percent of its fiscal 2015 sales from materials – split nearly evenly between process materials and advanced materials – and 26 percent from delivery systems. About 60 percent of the company’s sales are in Asia, with about 30 percent from the United States and 10 percent from Europe.

Versum will continue building out its Tempe, Ariz., headquarters in the coming months, Novo said, to enhance responsiveness to customers.

“Part of our strategy as a separate company is to be more market facing and agile by co-locating our business capabilities closer to the companies we serve. We have existing materials production, research and development, and a workforce in Tempe, and our major U.S. customers are located in the Western U.S.,” he said. “Additionally, over 70 percent of the market is now in Asia, and it continues to grow. Locating our headquarters in Tempe – to complement our major production facilities in Korea and Taiwan – will allow us to collaborate better with our U.S. and Asia teams and customers.”

Versum plans to maintain a number of administrative functions in the Lehigh Valley area, Novo said.