Corning To Acquire NoTox
December 4, 2000
Corning Inc. has agreed to acquire NoTox A/S from Silentor NoTox A/S for US $8.5 million in cash. Based in Copenhagen, Denmark, NoTox develops and produces diesel particulate filters using silicon carbide (SiC) materials. The seller is Silentor NoTox, a Danish company providing a range of muffler technologies to the automotive industry. The acquisition accelerates Corning's commitment to supply a comprehensive range of advanced diesel particulate filters to the automobile, truck and bus markets worldwide. Industry analysts anticipate that the market for diesel particulate filters could exceed US $300 million by 2005. The purchase gives Corning access to NoTox's innovative silicon carbide filter design and production capability.