Press release
Infineum to Acquire Entegris’ Pipeline and Industrial Materials Business as Part of its Transformational Growth Strategy
ABINGDON, England & BILLERICA, Mass.--(BUSINESS WIRE)-- Infineum and Entegris, Inc. (NASDAQ: ENTG) today announced that the companies have entered into a
About this update from Entegris, Inc.
[{"type":"text","content":" ABINGDON, England & BILLERICA, Mass.--(BUSINESS WIRE)--\nInfineum and Entegris, Inc. (NASDAQ: ENTG) today announced that the companies have entered into a definitive agreement for Infineum to acquire Entegris’ Pipeline and Industrial Materials business (PIM). Entegris’ PIM business is part of the company’s Specialty Chemicals and Engineered Materials (SCEM) division and includes the Flowchem, Val-Tex, and Sealweld brands and a broad range of Drag Reducing Agents (DRAs) for pipeline operations. The transaction is expected to close in the fourth quarter of 2022, subject to receipt of required regulatory approvals and other customary closing conditions.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221011005439/en/\n“We are excited to announce the agreement to acquire Entegris’ Pipeline and Industrial Materials business. This acquisition has a strong strategic fit with the core capabilities of Infineum and is a significant step in Infineum’s transformation into a sustainable world-class specialty chemicals company. We look forward to welcoming our new colleagues to the Infineum team,” said Trevor Russell, CEO.\n\n“Drag Reducing Agents (DRA) is an exciting global growth segment, and this addition will expand Infineum’s portfolio of specialty chemicals and deliver long-term value to our shareholders. Infineum’s complementary technology and supply chain capabilities, along with the synergies and dedication we intend to bring to this business, will enable us to provide customers with enhanced levels of innovation and performance reliability, all backed by the Infineum brand,” said Shee Young Kim, Infineum’s Director of Global Business Growth.\n\nAbout Infineum\n\nInfineum is a specialty chemicals company whose purpose is to create a sustainable future through innovative chemistry. A joint venture between Shell and ExxonMobil, Infineum is a leader in the formulation, manufacturing, and marketing of petroleum additives for lubricants and fuels with operations and production facilities worldwide. Additional information can be found at www.infineum.com.\n\nAbout Entegris\n\nEntegris is a world-class supplier of advanced materials and process solutions for the semiconductor and other high-tech industries. Entegris has approximately 10,000 employees throughout its global operat...