Praxair Signs Long-Term Agreement to Supply Nitrogen to GLOBALFOUNDRIES
October 17, 2017
DANBURY, Conn., October 17, 2017 – Praxair, Inc. (NYSE: PX), a leading global industrial gas company, has signed a long-term agreement to supply gaseous nitrogen to GLOBALFOUNDRIES in Malta, New York.
Praxair will build, own and operate a state-of-the-art plant to support GLOBALFOUNDRIES’ advanced manufacturing processes at its Malta fabrication facility. GLOBALFOUNDRIES is a leading semiconductor foundry that provides design, development and fabrication services to technology companies, manufacturing chips for many of the top semiconductor companies in the world.
“With our rich history of supporting leading electronics customers worldwide, we are proud to grow Praxair’s existing relationship with GLOBALFOUNDRIES as they expand their chip manufacturing,” said Kevin Foti, president of Praxair’s U.S. industrial gases business. “As a result of this agreement, two companies with significant local New York operations are coming together and spurring growth in their businesses and the local economy as well. Our reliable supply of nitrogen and industry expertise will support GLOBALFOUNDRIES’ position as one of the leading semiconductor fabs in the world.”
“GLOBALFOUNDRIES continues to grow to meet the needs of our global customer base,” said Debra Leach, GLOBALFOUNDRIES senior director of Procurement. “A reliable supply of high-quality gaseous nitrogen is an important component of our manufacturing operation at Fab 8 in New York, especially as we expand capacity to meet demand for our leading-edge semiconductor technologies."
Praxair, Inc. is a leading industrial gas company in North and South America and one of the largest worldwide. With market capitalization of approximately $40 billion and 2016 sales of $11 billion, the company employs over 26,000 people globally and has been named to the Dow Jones® World Sustainability Index for 15 consecutive years. Praxair produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Our products, services and technologies are making our planet more productive by bringing efficiency and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, primary metals and many others. For more information about the company, please visit our website at www.praxair.com.
GLOBALFOUNDRIES is a leading full-service semiconductor foundry providing a unique combination of design, development, and fabrication services to some of the world's most inspired technology companies. With a global manufacturing footprint spanning three continents, GLOBALFOUNDRIES makes possible the technologies and systems that transform industries and give customers the power to shape their markets. GLOBALFOUNDRIES is owned by Mubadala Development Company. For more information, visit http://www.globalfoundries.com.