FabExchange acquires ON Semiconductor's Rochester site
Private equity and divestiture partner, FabExchange, says it has completed the acquisition of ON Semiconductor’s Rochester, New York site.
Marketplace shifts led to the decision to discontinue the production of the CCD image sensor, ultimately resulting in the closure of the Rochester site. This is when FabExchange stepped in to assist ON Semi in their divestment from the site through a private equity acquisition, while working with the ESD to serve as a bridge to bring in a new manufacturer to join New York State’s semiconductor ecosystem. The property was originally constructed by Eastman Kodak Company back in 1959 and expanded in 1980. The building core is made up of dedicated lab space, cleanroom and surrounding office space. With space totalling 263'000 square feet, consisting of seven floors and a basement, the building is designed for wafer fabrication, assembly, testing, and office space. Potential clients are already showing interest FabExchange partnered with ON Semi, as well as local and international partners to facilitate this divestiture effectively and efficiently, with a focus on maximising future employment opportunities locally. A core objective for FabExchange here is to serve as a bridge for international companies wishing to invest in manufacturing in the US. “When acquiring facilities such as this, renovation and creative reconfiguration is almost always required. However, this facility is ready and primed for use by wafer fabs for MEMS, CMOS, CCD, and DRAM, and compound semiconductors (i.e., GaN or SiC fab, biochemical) production,” says Ali Shafi, Managing Partner of FabExchange. “We have a few clients showing interest in this facility generating great momentum, setting the stage for an exciting future for this property.”