HONEYWELL INTERNATIONAL INC acquired GEM Microelectronics, structured as Buyout of joint-venture partner's stake (to 100% ownership).
GEM Microelectronics operates in Specialty Materials (Electronic Materials), is based in Chandler, Arizona, USA. GEM Microelectronic Materials was a wet-process electronic-chemicals venture (ultra-high-purity acids, cleaning chemistries and etchants for semiconductors) with plants in Chandler, Arizona and Texas, formed in 2001 by combining Honeywell's and Mitsubishi's wet-chemicals businesses. In November 2004 Honeywell bought out Mitsubishi Chemical's roughly 40% stake to take full ownership, folding the business into Honeywell Electronic Materials.
Take full ownership of the wet-process electronic-chemicals JV and market its products under Honeywell Electronic Materials.
Advisory firms were not disclosed for this transaction.