Onsemi sells wafer manufacturing facilities in Maine, Belgium
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Onsemi (NASDAQ:ON) signed a definitive agreement with Diodes (NASDAQ:DIOD) to divest its wafer fabrication facility and operations in South Portland, Maine.
 Terms of the deal, which is expected to close in Q2 of 2022, were not disclosed. The facility offers DIOD additional 200mm wafer fab capacity for analog products.

Earlier this month, ON closed on the sale of its wafer fabrication facility in Oudenaarde, Belgium to BelGaN Group - a consortium of investors and executives with extensive expertise in semiconductors.
BelGaN plans to become a leading 6-inch and 8-inch gallium nitride (GaN) foundry in Belgium.
As ON transitions production to more efficient fabs within its network, it will improve its cost structure by eliminating fixed costs associated with the sold fabs and lowering unit costs.
âThe proposed divestitures show that we are well on our way to achieve an optimized manufacturing network while supporting our customers with long-term assurance of supply,â said ON CEO Hassane El-Khoury.