Onsemi, a leader in intelligent power and sensing technology, has signed a final agreement for the sale of its South Portland, Maine plant and completed the sale of its Belgian plant.

Onsemi announced on the 3rd that it is implementing a fab-liter manufacturing strategy to achieve sustainable financial performance goals by expanding gross profit.

Onsemi signed a final agreement last week to sell its manufacturing facility in South Portland, Maine.

In addition, the sale of the wafer manufacturing facility in Oudenaarde, Belgium was finalized early last month.

Onsemi plans to improve its cost structure by leveraging its existing network and transitioning production to more efficient facilities, thereby eliminating fixed costs associated with the sold manufacturing facilities and lowering product unit prices.

Hassane El-Khoury, Chairman and CEO of ON Semi, explained, “This sale demonstrates our commitment to building an optimized manufacturing network while ensuring long-term supply to our customers. ON Semi has achieved a seamless transition of production to other sites while providing continued employment and growth opportunities to the employees of the sold plant.”

ON Semi has reached a final agreement to sell its wafer manufacturing facility and operations in South Portland to Diodes Incorporated. Dioz Incorporated plans to expand 200mm wafer process production capacity to support the growth of its analog products.

The transaction is expected to be concluded in the second quarter of 2022.

On February 8, 2022, ON Semi completed the sale of its manufacturing facility in Audenarder, Belgium, to BelGaN Group BV, a consortium of investors and executives with expertise in the semiconductor field. Through this, BelGaN plans to become Belgium's leading 6-inch and 8-inch gallium nitride (GaN) foundry.