Diodes Inc., a publicly traded company based in Plano, Texas, has entered into an agreement to acquire Onsemi’s silicon wafer fabrication facility and operations in South Portland.

Diodes announced the purchase agreement in a news release on its website in late February. Terms of the agreement were not disclosed.

“The proposed acquisition of the South Portland facility aligns well with our strategic objective for significant revenue and profit dollar growth over the next several years,” said Keh-Shew Lu, chairman, president, and CEO of Diodes, in the release. “The team’s exceptional engineering capabilities and skills will support our technical and operational performance expectations and are a welcomed addition to the Diodes’ family.”

The South Portland fab owned by Phoenix-based Onsemi, formerly ON Semiconductor, offers additional 200-millimeter wafer fab capacity for analog semiconductor products to accelerate Diodes’ growth in the automotive and industrial markets, it said. The facility will complement Diodes’ existing fabs in Asia and Europe and grow its global manufacturing operations, the company said.

The sale transaction is expected to be completed in the second quarter, Diodes said.

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