Financial News
MOMENTIVE TECHNOLOGIES DEEPENS POSITION AS ADVANCED MATERIALS LEADER IN THE SILICON SEMICONDUCTOR SPACE THROUGH ACQUISITION OF COORSTEK’S CRUCIBLES BUSINESS
--News Direct--
CLEVELAND (June 7, 2022) – Momentive Technologies, a global provider of advanced materials technology, headquartered in Cleveland, Ohio, today announced that it signed an agreement to acquire CoorsTek’s crucibles product line. The acquisition will offer Silicon Semiconductor customers with a full range of crucible sizes to meet their advanced needs. Terms of the deal were not disclosed.
“Momentive Technologies is known for its materials expertise and deep knowledge of the silicon semiconductor market which makes them an ideal partner for this opportunity.” said Jonathan Coors, CoorsTek CEO. “Momentive Technologies offers our employees a strong cultural fit and increased capacity for continued stability and growth as they expand and grow in this key market. We know this legacy business and our employees are in good hands as we make this transfer to Momentive Technologies.”
CoorsTek KK’s history in Japan began as Toyo Fire Brick Company in 1918 in Tokyo, with factories in Oguni, Yamagata; Hatano, Kanagawa; and Kariya, Aichi. The company later became Toshiba Ceramics, then Covalent Materials and was acquired by CoorsTek in 2014 with an expanded footprint in Japan. In addition to crucibles, CoorsTek has a portfolio of more than 400 advanced ceramic formulations and next generation materials serving a wide variety of industries and markets.
About Crucibles
Crucibles are used to melt and process materials at ultra-high temperatures. Quartz crucibles are specifically used to process silicon material to produce single/poly crystalline silicon ingots. For the past 59 years, Momentive Technologies has been an industry leader in the production of quartz-based crucibles for use in the semiconductor and solar markets.
“I am thrilled to welcome the CoorsTek’s crucible product line and family onboard,” said Dr. Philip Rose, Momentive Technologies CEO. “We have respected their product focus in the advanced semiconductor nodes space.” he continued. “Momentive Technologies is constantly seeking ways to meet our customers ever-changing needs.”
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About Momentive Technologies
Momentive Technologies is an advanced material company engaged in the design and manufacture of ultra-high-performance Quartz and Ceramic products. Our materials technologies enable high-quality processing and production in a wide range of applications in the semiconductor, photovoltaic, lighting, aerospace, water purification, pharmaceutical, consumer electronic and telecommunication industries. http://www.momentivetech.com
About CoorsTek
Founded in 1910, CoorsTek is a leading global manufacturer of technical ceramics. By leveraging expertise in engineering and materials science, CoorsTek provides solutions to complex technical challenges in the semiconductor, medical, automotive, aerospace, and other industries. With over 400 proprietary formulations, vertically integrated systems, and unparalleled process capabilities, CoorsTek partners with its customers to make the world measurably better. For more information about our products and services visit www.coorstek.com.
Media Contacts:
Momentive Technologies
William Winans
william.winans@momentivetech.com
CoorsTek
Nancy Fullerton
+1 517-304-4695
Contact Details
CoorsTek
Nancy Fullerton
+1 517-304-4695
Momentive Technologies
William Winans
william.winans@momentivetech.com
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/momentive-technologies-deepens-position-as-advanced-materials-leader-in-the-silicon-semiconductor-space-through-acquisition-of-coorsteks-crucibles-business-860974830
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