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Article: Ceradyne buys ESK Ceramics.(Industry News)
- Article from:
- Advanced Ceramics Report
- Article date:
- September 1, 2004
CopyrightCOPYRIGHT 2004 International Newsletters. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Ceradyne Inc, USA, has signed an agreement to acquire ESK Ceramics (ESK), the Germanbased advanced ceramics maker, for 111.4 million [euro] ($136 million) in cash.
ESK, which had 2003 sales of approximately $90 million, is being sold to Ceradyne by its parent, Wacker Chemie GmbH, a German silicon and chemicals manufacturer with 2003 group sales of approximately $3 billion.
Subject to certain closing conditions, the companies expect to complete the acquisition by the end of the third quarter of 2004. The purchase price represents approximately 7.9% of ESK's 2003 earnings before interest, taxes, depreciation and amortization (EBITDA).
Ceradyne ...