Advanced Ceramics acquired by General Electric
Advanced Ceramics is a specialty high-temperature ceramics company, and a leading global producer of boron nitride powders, shapes, and coatings as well as other specialty ceramics. The company s Boralloy pyrolytic boron nitride (PBN) components are widely used in MBE cracker cells and in the bulk crystal growth of semiconductor materials.
This transaction, which is subject to regulatory approval, is expected to close in fall 2002. Advanced Ceramics, based in Cleveland, Ohio will become part of the GE Quartz business within GE Specialty Materials. Terms of the transaction were not disclosed.
"Advanced Ceramics makes sense for our growing, specialty materials business," said William Woodburn, President and CEO of GE Specialty Materials. "Advanced Ceramics is high technology serving the global materials industry. We are excited about the synergies with GE Quartz, GE Superabrasives and GE Silicones businesses in both improving our growth through new products and in reducing our manufacturing materials cost."
Dan Moore, Chairman of Advanced Ceramics added, "GE Quartz and GE Specialty Materials are growing, exciting businesses. We look forward to becoming part of the GE team."
Advanced Ceramics has its global headquarters in Cleveland, Ohio. It has manufacturing plants in Strongsville, Ohio; Cardiff, Wales and Kozuki, Japan.
GE Specialty Materials offers a wide range of products including fused quartz, silicones, and water treatment to serve customers in segments as diverse as cosmetics, semiconductors, oil drilling, construction and telecommunications.
