GE Specialty Materials Announces Acquisitions
GE Specialty Materials, a unit of General Electric Co., recently announced that it has signed an agreement to acquire Advanced Ceramics Corp. and Advanced Ceramics International Corp. The two companies offer specialty high-temperature ceramics, boron nitride powders, shapes and coatings as well as other specialty ceramics. This transaction, which is subject to regulatory approval, is expected to close in fall 2002. Terms of the transaction were not disclosed. "Advanced Ceramics makes sense for our growing specialty materials business," said William Woodburn, president and chief executive officer of GE Specialty Materials. "Advanced Ceramics is high technology serving the global materials industry. We are excited about the synergies with the GE Quartz, Superabrasives and Silicones businesses in both improving our growth through new products and in reducing our manufacturing materials cost."
For more information, call (518) 233-3893 or e-mail Milissa.Rocker@gesm.ge.com.