Danbury-based Praxair Inc. has signed a long-term agreement to supply gaseous nitrogen to GlobalFoundries, a semiconductor foundry based in Malta, New York. GlobalFoundries is owned by Mubadala Development Co., a wholly owned investment vehicle of the government of Abu Dhabi in the United Arab Emirates.
Under the terms of the agreement, Praxair will construct, own and operate a plant that supports GlobalFoundries”™ manufacturing processes at its fabrication facility. The financial aspects of the agreement were not made public.
“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,” said Kevin Foti, president of Praxair”™s U.S. industrial gases business. “Our reliable supply of nitrogen and industry expertise will support GlobalFoundries”™ position as one of the leading semiconductor fabs in the world.”
