Cabot Microelectronics Corporation Announces Ground Breaking on Construction of South Korea Manufacturing and Research and Devel
January 03 2011 - 8:15PM
Cabot Microelectronics Corporation (NASDAQ: CCMP), the world's
leading supplier of chemical mechanical planarization (CMP)
polishing slurries and a growing CMP pad supplier to the
semiconductor industry, today announced that it has broken ground
on the construction of its planned South Korea manufacturing and
research and development center.
The new 56,000 square foot (5,213 square meter) facility will be
located in the Gyeonggi Province, approximately 55 kilometers south
of Seoul, and in close proximity to the company’s
customers. The center is expected to be completed by the end
of calendar 2011, at a cost of approximately $12 million, and is
primarily intended to provide manufacturing and research and
development capabilities to service the company’s advanced memory
customers in South Korea. Initially, the facility is expected
to primarily support certain advanced dielectrics slurry products,
and additional CMP consumable products may be added in the future.
South Korea represents the world’s second largest market for CMP
consumables.
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.
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
annual report on Form 10-K for the fiscal year ended September 30,
2010, filed with the SEC. Cabot Microelectronics assumes no
obligation to update this forward-looking information.
CONTACT: Amy Ford, Director of Investor Relations at 630-499-2600.
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