The deal to acquire the "Fab 10" chip plant in East Fishkill will total $430 million. The deal to acquire the “Fab 10″ chip plant in East Fishkill will total $430 million.

EAST FISHKILL, NY—GlobalFoundries of Santa Clara, CA has reached an agreement to sell its 300mm chip fab plant here in Dutchess County to Phoenix-based ON Semiconductor for $430 million.

The two firms announced today they had reached a definitive agreement on the “Fab 10” plant sale that had GlobalFoundries pay ON Semiconductor $100 million at the signing of the agreement. The remaining $330 million will be paid at the end of 2022 when ON Semiconductor will take over full operational control of the site.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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