Cabot Microelectronics Corporation Completes Acquisition of Epoch Material Co., Ltd.
February 27 2009 - 1:05AM
Business Wire
Cabot Microelectronics Corporation (Nasdaq: CCMP), the world�s
leading supplier of chemical mechanical planarization (CMP)
polishing slurries and growing CMP pad supplier to the
semiconductor industry, announced today that it completed its
acquisition of Epoch Material Co., Ltd. (Epoch) for a total
purchase price of approximately US$66 million. Epoch was a
consolidated subsidiary of Eternal Chemical Co., Ltd. (Eternal)
(TAI:1717), and specializes in the development, manufacture and
sale of copper CMP slurries and CMP cleaning solutions to the
semiconductor industry, as well as color filter slurries to the
liquid crystal display (LCD) industry. As planned, Cabot
Microelectronics initially obtained 90 percent of Epoch�s stock,
with the remaining 10 percent to be transferred to the company from
Eternal in eighteen months.
�We are excited to begin integrating Epoch with our business,
which we believe will enhance our collective ability to innovate,
deliver and support high performing, world-class products to our
customers around the world,� stated Mr. William Noglows, Chairman
and CEO of Cabot Microelectronics Corporation. �We expect that
Epoch�s success in copper CMP slurries, along with its strong
customer relationships and extensive infrastructure in Taiwan, will
provide an excellent opportunity to strengthen and grow our core
CMP consumables business, primarily in the area of copper CMP.
Additionally, we plan to leverage our global infrastructure to
expand the sale of Epoch branded products to the global
semiconductor industry.�
ABOUT CABOT MICROELECTRONICS CORPORATION
Cabot Microelectronics Corporation, headquartered in Aurora,
Illinois, is the world's leading supplier of CMP slurries used in
semiconductor and data storage manufacturing. 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. Since
becoming an independent public company in 2000, the company has
grown to approximately 950 employees on a global basis, including
Epoch employees. The company's vision is to become the world leader
in shaping, enabling and enhancing the performance of surfaces, so
the company is leveraging its expertise in CMP slurry formulation,
materials and polishing techniques developed for the semiconductor
industry and applying it to demanding surface modification
applications in other industries where shaping, enabling and
enhancing the performance of surfaces is critical to success. For
more information about Cabot Microelectronics Corporation, visit
www.cabotcmp.com or contact Amy Ford, Director of Investor
Relations at (630) 499-2600.
ABOUT EPOCH MATERIAL CO., LTD
Epoch Material Co., Ltd., headquartered in Taiwan, is a
significant manufacturer of copper CMP slurries and CMP cleaning
solutions for the semiconductor industry. The company also supplies
color filter slurries to the liquid crystal display industry.
Additional information can be found at www.epochmaterial.com.
SAFE HARBOR STATEMENT
This news release may include statements that constitute
"forward looking statements" within the meaning of federal
securities regulations. These forward-looking statements include
statements related to: future sales and operating results; company
and industry growth or trends; growth of the markets in which the
company participates; international events or various economic
factors; product performance; the generation, protection and
acquisition of intellectual property, and litigation related to
such intellectual property; new product introductions; development
of new products, technologies and markets; the acquisition of or
investment in other entities; uses and investment of the company�s
cash balance; and the construction of facilities by Cabot
Microelectronics Corporation. Risks, uncertainties, and other
factors related to the referenced transaction include the
possibility that the remaining 10 percent transaction will not
close or that the closing may be delayed; the reaction of customers
of Cabot Microelectronics Corporation and Epoch to the transaction;
our ability to successfully integrate Epoch�s operations and
employees; our ability to maintain, develop and grow Epoch�s
business after the closing and to realize the expected benefits of
the acquisition; and general economic and business conditions. In
addition, please refer to those risk factors 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 "Risk Factors" in the company's
quarterly report on Form 10-Q for the quarter ended December 31,
2008 and in the company's annual report on Form 10-K for the fiscal
year ended September 30, 2008, both filed with the SEC. Cabot
Microelectronics assumes no obligation to update this
forward-looking information.
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