CoorsTek to acquire Saint-Gobain Advanced CeramicsPublished on July 1st, 2010 | By: firstname.lastname@example.org
CoorsTek announced that it has signed a definitive agreement to purchase the advanced ceramics business of Saint-Gobain for $245 million. Saint-Gobain Advanced Ceramics has facilities in Europe, North America, South America and Asia.
Under the agreement, CoorsTek will acquire the advanced ceramics business held by Saint-Gobain Ceramic Materials, a global supplier of materials and components made from ceramics, grains and powders.
“With the addition of Saint-Gobain’s Advanced Ceramics business, CoorsTek expands its material and processing capabilities and product offerings,” chief executive John K. Coors said in a recorded statement. “The result is a larger portfolio of complementary products and a stronger global presence.”
Subject to necessary governmental approvals, this acquisition is expected to be effective on July 31, 2010. Saint-Gobain’s Advanced Ceramics business employs roughly 1,200 people worldwide, including about 500 workers at six North American plants.
For a brief video of Coors discussing the agreement to purchase Saint-Gobain Advanced Ceramics business, click here.
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