ON Semiconductor, Fujitsu Semiconductor announce strategic partnership Fujitsu Semiconductor and ON Semiconductor announced that they have entered into a foundry services agreement. Under the terms of this agreement, Fujitsu will manufacture wafers for ON Semiconductor at its 8-inch front-end semiconductor wafer fabrication facility located in Aizu-Wakamatsu, Japan. Initial production of wafers is expected to begin within a year from today, and ON Semiconductor will have the opportunity to access additional capacity in the Aizu-Wakamatsu fab in the future. To build a stronger partnership, the two companies have also entered into a definitive agreement under which ON Semiconductor will obtain a 10 percent ownership interest in a newly formed subsidiary of Fujitsu Semiconductor that will include Fujitsuís 8-inch Aizu-Wakamatsu fab. The consideration to be paid by ON Semiconductor for this minority interest will be approximately $7M. The transaction is expected to close during Q4 or in early 2015, subject to certain regulatory approvals and other closing conditions.