Carbone Lorraine Announces Calcarb Acquisition (posted 1/6/09)
“By acquiring Calcarb, Carbone Lorraine is presented with a unique opportunity that fits in with our ‘2011 Expansion Business Plan,’” said Claude Cocozza, chairman and chief executive officer. “We are pleased to have been able to see this acquisition through successfully.”
It is expected that Calcarb’s reputation for high-quality products will enable Carbone Lorraine to make a strong and profitable growth in the graphite insulation market and strengthen its position in the solar energy market. Sales growth is expected to increase at a rate of 15% per year based on demand in the solar energy market. The new division is expected to generate sales of $50 million from its products in 2009. Carbone Lorraine planned to acquire 60% of the company’s shares by December 31, 2008, and has an option to increase its stake to 100% that can be exercised at any time in 2009. The acquisition is financed by debt.
Calcarb was a subsidiary of Inductotherm, which specializes in vacuum and induction furnaces. Calcarb Limited, headquartered in Scotland, manufactures high-purity carbon-bonded carbon fiber (CBCF)-based rigid insulation and precursor materials for vacuum and controlled atmosphere furnaces. In 2008, Calcarb moved into a new manufacturing facility, doubling its annual production capacity of low- and medium-density carbon-based products.
Visit www.carbonelorraine.com or www.calcarb.com for more information.