Versum will move headquarters, labs

Air Products & Chemicals is relocating the headquarters and laboratories of its electronic materials division. The division, which has annual sales of about $1 billion, is set to be spun off in September into a stand-alone company called Versum Materials. The new firm’s headquarters will be in Tempe, Ariz., rather than Air Products’ current base in Allentown, Pa. Laboratories in Allentown will be relocated over the next year to Tempe; Hometown, Pa.; Taiwan; and South Korea. The company says the moves will put it closer to its main customers in Asia and the western U.S.