INKSTER, Mich., Sept. 4 /PRNewswire/ -- EaglePicher Corporation (EaglePicher) today announced that it has completed its previously announced transaction to sell EaglePicher Boron, LLC (EP Boron) to Ceradyne, Inc. (Nasdaq: CRDN).
EP Boron, located in Quapaw, Oklahoma, has produced enriched boron isotopes and products containing other stable isotopes for the nuclear, semiconductor and hazardous materials industries. Its products include isotope B11, an additive to semiconductor grade silicon, and isotope B10, a neutron absorber.
Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, automotive/diesel, and commercial applications.
"EP Boron is a great complement to Ceradyne's existing assets, and I am pleased that this will provide a solid growth opportunity for the people and customers of Boron," said David Treadwell, president and CEO of EaglePicher. "I would like to recognize and thank the hard-working employees at EP Boron who contributed to making this transaction a success."
EP Boron sales were approximately $23 million in the fiscal year ending November 30, 2006. It is anticipated that the management team at EP Boron will remain in place. Over the last 18 months EaglePicher has focused on operational excellence and technological innovation throughout its business portfolio. It has also identified strategic players who could grow a particular business. "Ceradyne is an excellent example of that effort," said Treadwell.
"I am very excited to announce the completion of this transaction,"
said David Reed, Ceradyne's President of North American Operations. "Boron
fits perfectly with Ceradyne's long-term strategy, and I look f
|SOURCE EaglePicher Corporation|
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