MAYFIELD HEIGHTS, Ohio--(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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170301005868/en/
Materion Corporation
Investor Contact:
Stephen
F. Shamrock, 216-383-4010
stephen.shamrock@materion.com
or
Media
Contact:
Patrick S. Carpenter, 216-383-6835
patrick.carpenter@materion.com
or
http://www.materion.com
Mayfield
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Source: Materion Corporation
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