Materion Corporation Completes Heraeus Target Materials Acquisition
March 01 2017 - 7:30AM
Business Wire
Materion Corporation (NYSE:MTRN) announced today that it has
completed the previously announced acquisition of the target
materials business of the Heraeus Group, of Hanau, Germany, for
approximately $30 million.
The acquisition strengthens Materion’s position in precious and
non-precious target materials for the architectural and automotive
glass, photovoltaic, display and semiconductor markets. The
business, now operating within the Materion Advanced Materials
business segment, is expected to generate approximately $50 to $60
million in new value-added sales on an annualized basis and be
accretive to 2017 earnings. Materion Advanced Materials reported
value-added sales of $176.3 million in 2016.
Through this transaction, Materion’s Advanced Materials segment
gains target manufacturing capability in Europe, Asia and the U.S.,
as well as new technologies and a highly specialized workforce of
135 employees.
Donald G. Klimkowicz, President, Materion Advanced Materials,
commented, “Beyond accelerating and solidifying our global
materials offering in semiconductor and display, the acquisition
provides diversification, critical mass and new opportunities in
other growing target-related areas where Materion has not enjoyed
as strong a position including glass and photovoltaic. This truly
is a winning combination.”
Added Materion Chief Executive Officer Richard J. Hipple, “This
transaction is the latest in a series of advanced materials
acquisitions made by Materion since 2005 to augment our growth and
further our diversification into a leading advanced materials
organization. I am very excited about the prospects for future
growth that this acquisition brings us in existing and new markets,
and how closely the values and culture of the Heraeus employees who
join us match with our own. We welcome them to the Materion
family.”
Materion Corporation is headquartered in Mayfield Heights, Ohio.
The Company, through its wholly owned subsidiaries, supplies highly
engineered advanced enabling materials to global markets. Products
include precious and non-precious specialty metals, inorganic
chemicals and powders, specialty coatings, specialty engineered
beryllium alloys, beryllium and beryllium composites, and
engineered clad and plated metal systems.
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version on businesswire.com: http://www.businesswire.com/news/home/20170301005868/en/
Materion CorporationInvestor
Contact:Stephen F. Shamrock,
216-383-4010stephen.shamrock@materion.comorMedia Contact:Patrick S. Carpenter,
216-383-6835patrick.carpenter@materion.comorhttp://www.materion.comMayfield
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