Cabot Microelectronics Corporation Announces Acquisition of Surface Finishes Co., Inc.
October 06 2005 - 7:00PM
Business Wire
Cabot Microelectronics Corporation (NASDAQ:CCMP), the leading
supplier of chemical mechanical planarization (CMP) polishing
slurries to the semiconductor industry, announced today that it has
purchased the assets of Surface Finishes Co., Inc., a
privately-held pioneer in precision machining techniques at the
sub-nanometer level. This acquisition is designed to accelerate
Cabot Microelectronics' Engineered Surface Finishes (ESF)
initiative, by which the company seeks to leverage its expertise in
CMP formulation and polishing techniques for the semiconductor
industry to address other areas where shaping, enabling and
enhancing the performance of surfaces is critical. "We are the
world's leading CMP slurry provider, with a global team of
scientists and engineers that we believe has unparalleled technical
expertise in using chemistry and nano-abrasive particles to modify
surfaces at the atomic level," stated William P. Noglows, chairman
and chief executive officer of Cabot Microelectronics. "We believe
we can leverage our experience in the semiconductor and data
storage industries to improve productivity and ultimate surface
performance for other technically demanding applications that are
synergistic to our core CMP slurry business. Our acquisition today
of Surface Finishes, with its demonstrated leadership in precision
finishing of materials and surfaces with extremely demanding
geometries, represents an important step in our pursuit of this
strategy. We believe our combined proprietary knowledge and skills
will produce a unique ability to add value to many fine-finish
polishing applications. We will continue to develop our core CMP
business and work closely with our existing customers to meet their
needs. However, we look forward to integrating Surface Finishes'
capabilities and pursuing other similar opportunities to complement
our expanding engineered surface finishes efforts, enabled by the
flexibility provided by our strong balance sheet and cash flow."
"We are excited about a future made possible by joining resources
with Cabot Microelectronics," stated Mark Drzewiecki, president and
owner of Surface Finishes. "Surface Finishes has a long history of
providing groundbreaking solutions for customer applications. By
melding our expertise in precision finishing with Cabot
Microelectronics' expertise in atomic-scale surface modification,
we believe we can provide even greater value to our customers."
About Cabot Microelectronics Cabot Microelectronics Corporation,
headquartered in Aurora, Illinois, is the leading supplier of CMP
slurries for polishing various materials used in semiconductor
manufacturing processes. The company's products play a critical
role in the production of the most advanced semiconductor devices,
enabling the manufacture of smaller, faster and more complex
devices by its customers. For more information about Cabot
Microelectronics Corporation, visit www.cabotcmp.com or contact
Barbara Ven Horst, director of investor relations, at (630)
375-6631. Additional information about the company's Engineered
Surface Finishes initiative can be found at www.ensurfin.com. About
Surface Finishes Surface Finishes Co., Inc., based in Addison,
Illinois, provides sub-nanometer level tolerances on prototype or
production components such as mirrors for optical imaging and
scanning, air bearings, optical disc molds, large area reference
surfaces and custom gauging. Since 1949, Surface Finishes has
pioneered precision machining techniques specializing in flat,
cylindrical, perpendicular and parallel surfaces with extremely
demanding geometries. Safe Harbor Statement Included in this news
release are statements that constitute "forward-looking" statements
within the meaning of federal securities regulations. These
forward-looking statements include statements related to future
sales, future benefits of the ESF initiative, company and industry
growth and trends, growth of the markets in which the company
participates, new product introductions and development of new
products, technologies and markets, or the acquisition of or
investment in other entities by Cabot Microelectronics. These
forward-looking statements involve a number of risks,
uncertainties, and other factors, including those described from
time to time in Cabot Microelectronics' filings with the Securities
and Exchange Commission (SEC), that could cause actual results to
differ materially from those described by these forward-looking
statements. In particular, see "Risks Relating to our Business" in
Management's Discussion and Analysis in the company's quarterly
report on Form 10-Q for the quarter ended June 30, 2005, and the
company's Annual Report on Form 10-K for the fiscal year ended
September 30, 2004, filed with the SEC. Cabot Microelectronics
Corporation assumes no obligation to update this forward-looking
information.
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