Entegris Announces Plans to Build New Manufacturing Center of Excellence in Colorado Springs

Rhea-AI Summary

Entegris has announced plans to construct a new manufacturing center of excellence in Colorado Springs, aiming for initial operations by mid-2024. This facility will enhance its Microcontamination Control and Advanced Materials Handling divisions and is expected to generate around 600 new jobs. Entegris plans to invest approximately $600 million, supported by state and local incentives and potential federal funding from the CHIPS and Science Act. The initial phase will include a 100,000-square-foot facility, emphasizing sustainability in its operations.

Positive

• Investment of approximately $600 million in a new manufacturing facility.
• Creation of approximately 600 new jobs over several years.
• Expansion of Entegris’ presence in Colorado, enhancing service to semiconductor customers.

Negative

• Investment and project expansion are contingent on regulatory approvals and local incentives.
• Risks associated with forward-looking statements regarding future staffing and operational outcomes.

Expands Entegris’ U.S. Footprint and Support to Strategic Customers in the United States

Entegris’ Investment to be Supported by State and Local Incentives and Potential Federal Funding from the CHIPS and Science Act

BILLERICA, Mass.--(BUSINESS WIRE)-- Entegris, Inc. (Nasdaq: ENTG), a leading supplier of advanced materials and process solutions for the semiconductor and other high-technology industries, today announced plans to build a new manufacturing center of excellence in Colorado Springs. The new facility expands Entegris’ significant presence in Colorado and enhances its ability to meet the needs of its customers as the semiconductor manufacturing industry continues its expansion in the United States.

Entegris Announces Plans to Build New Manufacturing Center of Excellence in Colorado Springs (Graphic: Entegris)

The new facility will initially support production for Entegris’ Microcontamination Control (MC) and Advanced Materials Handling (AMH) divisions, which develop critical products used to manufacture semiconductors. The facility is targeted to begin initial commercial operations in mid-2024. Entegris expects to invest approximately $600 million in the construction of the facility over the next several years, subject to receipt of appropriate approvals and state and local incentives. The new campus will be built in phases, with a 100,000-square-foot facility in its initial phase.

“Our new U.S. manufacturing center of excellence has the potential to create approximately 600 new jobs over several years, doubling Entegris’ presence in Colorado, with the potential to continue to expand over time,” said Bertrand Loy, Entegris’ president and chief executive officer. “As a strategic supplier to the semiconductor industry, we recognize that it is more important than ever to invest in the U.S. to maintain and expand the nation’s technology leadership across the semiconductor ecosystem. This investment is a transformational step towards addressing the industry’s long-term capacity constraints while building additional supply chain efficiency and resiliency.”

“Entegris has benefitted from a 30-year presence in Colorado Springs, and we are excited to continue to expand our operations here and support the growth of the semiconductor manufacturing ecosystem in the U.S.,” said Bill Shaner, president, Advanced Materials Handling. “Having grown up in Colorado and worked alongside our colleagues in this great state for 27 years, I look forward to deepening Entegris’ connections and building on our strong relationships in Colorado Springs and statewide.”

Entegris chose the Colorado Springs site after an extensive selection process. Key strategic advantages for the location include proximity to customers and an existing Entegris site, supply chain resources to optimize supply lines, strong existing partnerships with the state and local government, the area’s talented workforce, and a business-friendly environment. The recent CHIPS and Science Act of 2022 also influenced Entegris’ decision to build the site in the United States.

“Our administration has worked to expand Colorado’s technology and advanced manufacturing industries and to create an economy where we foster innovation. We are thrilled Entegris has chosen Colorado Springs for their expansion which will create up to 600 new jobs. Colorado Springs is a great place to live, work and do business, and our state is excited to welcome companies that share our values of community and workforce development and sustainability,” said Jared Polis, Governor of Colorado.

“We passed the CHIPS and Science Bill to bring semiconductor manufacturing jobs back to America. Thanks to Entegris, Colorado is part of that comeback. This is great news for our tech race with China, the state, and our national security,” said U.S. Senator for Colorado John Hickenlooper.

“The past few years have underscored the importance of dependable and secure supply chains based here in America. Thanks to the CHIPS and Science Act and investments to level the playing field for America’s semiconductor industry, we are starting to see more companies, like Entegris, bring this critical industry back home. I welcome this announcement, which will bring good-paying jobs to Colorado, support our technological leadership around the globe, and strengthen our national security,” said U.S. Senator for Colorado Michael Bennet.

“We were happy to lead this effort with our numerous partners to show we were the right choice for this substantial investment. Entegris’ new U.S. manufacturing center of excellence will bolster their supply chain optimization while diversifying our economy and creating great jobs for the talented workforce in our region,” said Johnna Reeder Kleymeyer, president & CEO, Colorado Springs Chamber of Commerce and Economic Development Corporation.

The world-class manufacturing facility will include advanced environmental sustainability features in line with Entegris’ longstanding commitment to incorporate sustainability and resource stewardship into all aspects of its business practices. The new facility will also be constructed and operated in alignment with the four pillars of Entegris’ Corporate Social Responsibility framework: Innovation, Safety, Personal Development and Inclusion, and Sustainability.

Entegris’ investment will be supported by state and local incentives. The project is planned to occur over multiple phases with the initial phase consisting of an approximately $200 million investment to cover the land purchase and building and equipment costs. Entegris’ investment and the incentives awarded from the Colorado Office of Economic Development and International Trade are subject to regulatory approval. Entegris will evaluate potential opportunities to further expand the project based on additional sources of funding, including potential federal funding from the implementation of the CHIPS and Science Act.

About Entegris

Entegris is the global leader in electronic materials for the semiconductor market. With approximately 10,000 employees across its global operations, Entegris offers the industry’s most comprehensive and innovative unit-driven end-to-end offering for semiconductor customers, in addition to solutions for the life sciences and other advanced manufacturing environments. Entegris’ solutions help customers improve their performance, productivity and yields to enable technologies that transform the world. It has manufacturing, customer service, and/or research facilities in the United States, Canada, China, France, Germany, Israel, Italy, Japan, Malaysia, Singapore, South Korea, Taiwan and the United Kingdom. For more information about Entegris, visit us at www.entegris.com, or follow us on LinkedIn, Twitter, Facebook, and Instagram.

Forward-Looking Statements

This news release contains forward looking statements. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “should,” “may,” “will,” “would” or the negative thereof and similar expressions are intended to identify such forward looking statements. These forward-looking statements include statements related to Entegris’ expansion of its manufacturing presence in Colorado; the amount of Entegris’ investment in connection with such expansion; future operations at the new manufacturing facility; future staffing levels; receipt of local, state and/or federal incentives and other matters. These statements involve risks and uncertainties, and actual results may differ materially from those projected in the forward-looking statements. These risks and uncertainties include, but are not limited to, those that are described in Entegris' filings with the Securities and Exchange Commission, including under the heading “Risks Factors” in Item 1A of Entegris' Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed with the Securities and Exchange Commission on February 4, 2022, and in Entegris' other periodic filings. Except as required under the federal securities laws and the rules and regulations of the Securities and Exchange Commission, Entegris undertakes no obligation to update publicly any forward-looking statements or information contained herein, which speak as of their respective dates.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221220005598/en/

Media Contact:

Connie Chandler

Senior Director of Corporate Communications

T +1 978-436-6546

connie.chandler@entegris.com

Investor Contact:

Bill Seymour

VP of Investor Relations, Treasury and Communications

T +1 952-556-1844

bill.seymour@entegris.com

Source: Entegris, Inc.

FAQ

What are Entegris' plans for the new facility in Colorado Springs?

Entegris plans to build a new manufacturing center to enhance its Microcontamination Control and Advanced Materials Handling divisions, with operations expected to start by mid-2024.

How much is Entegris investing in the new Colorado facility?

Entegris is investing approximately $600 million in the construction of the new facility.

How many jobs will the new Entegris facility create?

The new facility is expected to create around 600 new jobs over the coming years.

What support is Entegris receiving for its Colorado facility?

The investment will be supported by state and local incentives, along with potential federal funding from the CHIPS and Science Act.

What is the timeline for the new Entegris manufacturing facility?

The new facility is targeted to begin initial commercial operations in mid-2024.