ON Semiconductor buys DeWitt chip manufacturing plant for $20 million

ON Semiconductor recently purchased a chip manufacturing plant in DeWitt for $20 million. The plant was previously built by New York State with an investment of $100 million, but the two previous tenants, including the startup NexGen, have closed down. NexGen once produced gallium nitride-based semiconductors for power systems and filed for bankruptcy in December last year. ON Semiconductor purchased NexGen's intellectual property and the equipment of the DeWitt plant it owns. The industry speculates that ON Semiconductor may also be producing gallium nitride-based semiconductors, which will have a positive impact on its expansion and technology upgrades.