A statement from Air Products said it expects the deal to immediately add to its bottom line, Reuters has reported.
"Air Products' electronics and performance materials segment provides the electronics industry with specialty gases," the news provider explained.
The announcement saw Air Products shares fall two per cent on the New York Stock Exchange.
In other industry news, new research has suggested that China's fabless semiconductor market is set for substantial growth.
Analyst forecasts suggest that by 2015, revenue in the market will have reached $10.7 billion, up from $5.2 billion in 2010, which was a rise of 23.6 per cent from the $4.2 billion revenue recorded the previous year.
"China's fabless semiconductor suppliers must focus on consumer electronics because the major characteristics of the market, including technology, price and quality, play to the strengths of Chinese chip designers," explained IHS iSuppli.
Posted by Simon Jones
