Newport-based semiconductor equipment maker SPTS Technologies Group has sold its thermal-products operation for £18 million to SPP Technologies of Jenkintown, Pennsylvania.
The Welsh company, which also has facilities in Allentown (Pennsylvania) and San Jose (California) was bought by Israeli company Orbotech in July 2014 for £215 million.
Kevin Crofton, president of SPTS and corporate vice-president of Orbotech, said: “Historically, the thermal-products business has been part of our growth and success.
“However, selling it at this time will enable us to focus on our core businesses. We believe this sale will provide new opportunities for the thermal-products business under the ownership of SPT, and we wish them continued achievement and success.”