Dec. 27, 2001 – Armonk, NY – SEMX Corp. has signed a letter of intent to sell its domestic wafer reclaim operation, American Silicon Products, to an undisclosed party.
Terms weren’t disclosed, but they are subject to the completion of due diligence and requisite approvals, reported Dow Jones.
SEMX expects it will take 45 to 60 days to complete the sale of its American Silicon Products operations, which are based in Providence, RI.
The company said that as a result of the transaction, it would probably classify the Wafer Reclaim Services Group as a “discontinued operation” in its financial statements for the period ending Dec. 31.
SEMX sells specialty materials and services to the microelectronic and semiconductor industries.