(MENAFN- PR Newswire)
LCY's Key Role in Semiconductor Value Chain Helps Realize US Supply Chain Resilience
National Harbor, Md, June 27, 2022 /PRNewswire/ -- LCY Group Chairman Bowei Lee attended the 2022 SelectUSA Investment Summit, the highest-profile event hosted by the U.S. Department of Commerce dedicated to promoting foreign direct investment in the United States. LCY Chemical Corp. is a key materials supplier in the global semiconductor industry value chain, in his speech at the U.S. Manufacturing Advantage plenary session, Lee shared his observation from the company's long-time investment experience in the U.S. Top executives from Toyota Motor Manufacturing Mississippi, Inc., Aurubis, and Bombardier were among the panelists for the same session.
LCY Group Chairman Bowei Lee (in the center) joined the 2022 SelectUSA panel discussion along with top executives from Toyota Motor, Aurubis, and Bombardier, and shared investment experience in the United States.
LCY Group Chairman Bowei Lee (in the center) attended the SelectUSA Summit in Maryland.
Responding to the U.S.' Call for Investment, LCY Brings along Exclusive Technology to Its New Plant in the U.S.
The U.S. administration's policy discourse has turned towards Made in USA and America COMPETES Act. In addition to the extensive promotion of infrastructure projects, the government is proactively supporting the manufacturing industry, waving hands at the global semiconductor manufacturers to strengthen domestic supply chain resilience.
LCY Chemical Corp. is a critical chemical supplier for the semiconductor industry that boasts cutting-edge technologies for electronic-grade isopropyl alcohol (EIPA) production. In 2021, the company announced its strategic expansion in the U.S. market, investing $100 million in a new manufacturing plant in Arizona to supply EIPA for advanced under 5-nano processes. The move will support semiconductor industry's advanced processes in the U.S.; LCY's innovative 'EIPA Dual Cycle Circular Economy' technology can identify unknown content in the recycled waste liquid. The exclusive technology separates, filters, and purifies the waste liquid to generate high-purity EIPA, which can be used in the semiconductor production process once again. The circular economy model helps the semiconductor industry inch in on the 2050 Net Zero goals through carbon footprint reduction, saving water resources, and reducing its dependence on petrochemical feedstock.
LCY Emphasizes Diverse Innovation and Looks to Recruit U.S. Talent
During the summit, Lee also spoke about the U.S.' role as a leading technology powerhouse that nurtures talents with the spirit of entrepreneurship, innovation, and global perspective. Along with plans for future global operation expansion, LCY looks forward to more U.S. talents joining the organization to expand current diverse international stage where employees can grow with the company and create possibilities for a sustainable earth.
Calls for Infrastructure Support for Further Investment
As a global material and science company, LCY has manufacturing footprints in Qatar, Canada, and various locations in Taiwan, China and US. In 2004, LCY Chemical Corp. expanded its presence to Texas through merger and acquisition, subsequently invested in startup companies in Carlsbad and San Carlos in California. Last year LCY announced the establishment of LCY Electronic Materials, Inc. in Arizona, supplying electronic chemical solutions to most advanced chipmakers in the US.
Lee also pointed out that the US administrations, from federal, to state, to local level, are one of the most supportive governments. LCY's operations in the US is to help strengthen supply chain resilience, create quality jobs, and build a sustainable future. The experiences have demonstrated that the United States is a great investment destination. LCY will bring in more resources to strengthen the US investment, if we are considered in the incentive programs like other fellow American companies, which will further encourage the company to invest more.
About LCY Chemical Corp.
Founded in 1965, LCY Chemical Corp. is committed to science innovation for a sustainable future. Our main business operations include synthetic rubber, electronic-grade chemicals, bio-based chemicals, performance plastics, methanol and solvents, etc. We uphold the core values of integrity, teamwork, innovation, and accountable leadership in our continuous commitment to the field of material science. Our presence spans across Asia, North America, and the Middle East. Looking ahead, LCY Chemical Corp. will utilize our growth momentum to groom future material science talents and lead the transformation of our industry.
SOURCE LCY Chemical Group
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