Cabot Microelectronics Corporation Completes Second Closing of Acquisition of Epoch Material Co., Ltd.
August 30 2010 - 6:00AM
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, today announced that it completed the
second closing of its two-step acquisition of Epoch Material Co.,
Ltd. (Epoch), a copper CMP slurry provider in Taiwan, on August 27,
2010. As previously disclosed, Cabot Microelectronics initially
obtained 90 percent of Epoch's stock in February 2009, and with
this second closing, the remaining 10 percent was transferred to
the company from Eternal Chemical Co., Ltd. (Eternal Chemical)
(TAI:1717). The total acquisition price was approximately $66
million, all of which was paid or escrowed at the first closing.
"We are pleased to have successfully integrated Epoch into our
company over the past eighteen months, with the support of Eternal
Chemical," said William Noglows, Chairman and CEO of Cabot
Microelectronics. "We are delighted that this acquisition has
allowed us the opportunity to expand our presence in Taiwan,
enhancing our ability to better serve and collaborate with our
customers. In our view, this acquisition has also strengthened
our copper CMP slurry portfolio and has enabled us to leverage cost
savings opportunities across our combined organization."
ABOUT CABOT MICROELECTRONICS CORPORATION
Cabot Microelectronics Corporation, headquartered in Aurora,
Illinois, is the world's leading supplier of CMP polishing slurries
and growing CMP pad supplier to the semiconductor industry. The
company's products play a critical role in the production of
advanced semiconductor devices, enabling the manufacture of
smaller, faster and more complex devices by its customers. The
company's mission is to create value by developing reliable and
innovative solutions, through close customer collaboration, that
solve today's challenges and help enable tomorrow's
technology. Since becoming an independent public company in
2000, the company has grown to approximately 925 employees on a
global basis. For more information about Cabot
Microelectronics Corporation, visit www.cabotcmp.com or contact Amy
Ford, Director of Investor Relations at (630) 499-2600.
The Cabot Microelectronics Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6902
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, contraction or trends; growth or contraction
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. 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 "Risk Factors" in the
company's quarterly report on Form 10-Q for the quarter ended June
30, 2010 and in the company's annual report on Form 10-K for the
fiscal year ended September 30, 2009, both filed with the SEC.
Cabot Microelectronics assumes no obligation to update this
forward-looking information.
CONTACT: Cabot Microelectronics Corporation
Amy Ford, Director of Investor Relations
(630) 499-2600
CMC Materials (NASDAQ:CCMP)
Historical Stock Chart
From May 2024 to Jun 2024
CMC Materials (NASDAQ:CCMP)
Historical Stock Chart
From Jun 2023 to Jun 2024