EAST FISHKILL – ON Semiconductor Corporation will acquire the 300mm chip fabrication facility in East Fishkill from GlobalFoundries.
The acquisition is for $430 million of which $100 million was paid at signing of the agreement. The other $330 million will be paid at the end of 2022 after which ON Semiconductor will gain full operational control of the facility.
The site’s 1,000 employees will transition to ON Semiconductor.
The agreement allows ON Semiconductor to increase its 300mm production at East Fishkill over several years and allows GlobalFoundries to transition its technologies to the company’s other three at-scale 300mm sites.
The acquisition of the East Fishkill operation “is another major step in our progress towards leadership in power and analog conductors,” said Keith Jackson, president and CEO of ON Semiconductor.
“ON Semiconductor’s decision to expand and grow its operations in New York State is proof positive that smart investments in our innovation economy are working and fueling New York’s unprecedented growth,” Governor Cuomo said. “We’re glad ON Semiconductor is choosing to deepen its roots here and its commitment to New York State.”
“This agreement with ON Semiconductor continues to advance the high-tech industry in the Hudson Valley,” said Lieutenant Governor Kathy Hochul.”The company’s investment will further advance chip manufacturing in New York State and add over 100 jobs and retain nearly 1,000 in Dutchess County. We are committed to ensuring the continued growth of the industry and strengthening the economy of New York State.” Dutchess County Executive Marcus Molinaro said the county “continues to be where innovation happens, and we are excited to welcome ON Semiconductor into our community and shepherd in the latest technological innovations for automotive electrification, 5G mobile networks, alternative energy and more.”