Cabot Microelectronics Corporation Signs Non-Binding Memorandum of Understanding to Expand Capabilities in South Korea
September 27 2010 - 8:15PM
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 has entered into a
non-binding Memorandum of Understanding (MOU) with the Gyeonggi
Province of South Korea to potentially establish manufacturing and
research and development capabilities in the region. The signing
ceremony was held at Cabot Microelectronics Corporation's
headquarters in Aurora, Illinois on September 27, 2010 and was
attended by the Governor of Gyeonggi Province, Moon-Soo Kim.
The MOU reflects a potential aggregate investment by the Company
of approximately US$10 million in Gyeonggi Province. The potential
investment would provide expanded capabilities in South Korea to
serve the needs of the Company's advanced memory customers.
Ben Han, Cabot Microelectronics' Country Manager of
Korea, stated, "This potential investment supports our strategic
initiative to get closer to our Asian customers and our continued
focus on building strong customer relationships and supply
capabilities in Korea."
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
630-499-2600
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