29/6/10 – CoorsTek acquires Advanced Ceramics Business from Saint-Gobain for €200M
29 June 2010
Saint-Gobain, one of the leading global suppliers of ceramic, grains and powders has signed an agreement to sell part of its advanced ceramic business to CoorsTek, a global leading manufacturer specialising in technical ceramic and specialty material components. The business is to be sold for around €200M or $245M.
CoorsTek whose headquarters are in North America, but who also have facilities in Europe and Asia supply components and assemble products to the defense, medical, automotive, aerospace, electronic, power generation and telecommunication industries. The acquisition will expand CoorsTek’s business substantially, providing them with new facilities in Europe, North America, South America and Asia.
Chairman, President and CEO of CoorsTek, Inc said "We are very excited about our addition of the Saint-Gobain Advanced Ceramics business. This acquisition will significantly benefit our customers by expanding our material and processing capabilities, product offerings, and geographical reach.”
The products involved in the advanced ceramics sector of industry include; hot surface igniters, electro-ceramic parts for household appliances, ceramic balls for high performance bearings and other dense aluminia components.
The sale has been confirmed despite reported sales of €135M in 2009 from Saint-Gobain’s Advanced Ceramics business and the acquisition is expected to take place on July 31, 2010.
Saint-Gobain designs, manufactures and distributes building materials with a strong emphasis on the increasingly concerning issues of energy efficiency, population growth and environmental protection. The company currently operates in 64 countries with over 190,000 employees.
It is believed the reason for Saint-Gobain’s sell-off is for a more concentrated business focus on activities of a high technological content and to expand product development in this area.