GE Specialty Materials Completes Advanced Ceramic Acquisitions
November 12, 2002
GE Specialty Materials, a unit of General Electric Co., recently announced that it has completed the acquisition of the assets of Advanced Ceramics Corp. and Advanced Ceramics International Corp. Advanced Ceramics is the world's largest boron nitride producer. The Advanced Ceramics business is based in Cleveland, Ohio, and will become part of the GE Quartz business within GE Specialty Materials. The new business will be known as GE Advanced Ceramics. Terms of the transaction were not disclosed. "The addition of Advanced Ceramics is another strategic building block for us," said William Woodburn, president and chief executive officer of GE Specialty Materials. "Advanced Ceramics is a high technology business serving the global materials industry and is another example of how we are expanding in growing markets. The GE Specialty Materials family of businesses has much to gain from this acquisition. There are solid synergies not only with GE Quartz, but also with other businesses within the Specialty Materials portfolio."