Entegris Announces $700 Million In Domestic Semiconductor Market For R&D Spending

Entegris Inc. (NASDAQ:ENTG) is one of the 12 Best Semiconductor Equipment Stocks to Buy Right Now. On August 21, Entegris Inc. (NASDAQ:ENTG) announced $700 million in domestic research and development (R&D) spending over the next several years.

Entegris will invest in the domestic semiconductor market in collaboration with the Trump Administration. The company will invest to accelerate semiconductor innovation, while the investment will go into R&D projects and related capital expenditures. The investment will be split into two divisions, Materials Solutions and Advanced Purity Solutions.

Entegris Announces $700 Million In Domestic Semiconductor Market For R&D Spending

“To support the industry’s growth, we have been creating a stronger and more resilient domestic semiconductor ecosystem in the U.S. These investments also allow for continued leadership in advanced materials solutions,” said Entegris president and CEO Dave Reeder.

Under this investment, Entegris will develop its Aurora, Illinois, location, which is strategically located between semiconductor hubs in New York, Ohio, Arizona, and Texas. This new facility will be a state-of-the-art U.S. Technology Center and will be a cornerstone to Entegris’ solutions. This investment follows the company’s previous commitment of $700 million to the development of a manufacturing center of excellence in Colorado Springs, Colorado.

Entegris Inc. (NASDAQ:ENTG) has soared just over 2% since the company announced a $700 million investment for the U.S. semiconductor centers.

Entegris Inc. (NASDAQ:ENTG) offers advanced materials and process solutions for the semiconductor and other high-technology industries. The company serves through two segments: Materials Solutions and Advanced Purity Solutions.

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Disclosure: None. This article is originally published at Insider Monkey.