Ceradyne, Inc. has signed a purchase agreement to acquire EaglePicher Boron LLC (EP Boron) of Quapaw, Okla., for approximately $69.0 million in cash. EP Boron was established in the early 1970s to produce the boron isotope B10, which is a strong neutron absorber used for both nuclear waste containment and nuclear power plant neutron radiation control. EP Boron also produces complementary chemical isotopes used in the normal operation and control of nuclear power plants. Ceradyne anticipates that this acquisition will further strengthen its entry into the nuclear waste containment and other nuclear power plant related ceramic materials markets.
The remaining boron isotope produced by EP Boron is B11, which is used as an additive to semiconductor grade silicon as a doping agent and in other semiconductor processes where ultra-high-purity boron is required. This growing market currently accounts for approximately 40% of EP Boron sales, which were about $23.0 million for its fiscal year ended November 30, 2006.
Additional details are available at www.ceradyne.com