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The transaction, which is expected to be accretive to Entegris’ earnings per share in 2009, is expected to extend Entegris’ position in the semiconductor market as a major provider of process-critical consumables and related products and services, and will add new complementary growth vectors in other high-performance industries. “This transaction adds to our core materials science competencies, significantly broadens our range of high-performance consumable offerings, and enables us to serve more customers in more ways,” said Gideon Argov, president and chief executive officer of Entegris. “As such, it is an opportunity to increase our revenues and earnings, accelerate our growth, create economies of scale, and build value for our shareholders.
“Poco, together with the Entegris Specialty Coatings business that we acquired in August 2007, will form the foundation of a materials-based consumable products business that has a strong presence in semiconductors but is also well-positioned in other growth areas. With 60% of its revenue coming from outside the semiconductor industry, Poco provides us with existing sales and growth opportunities in the medical, aerospace and specialty industrial markets.”
“Highly engineered graphite and silicon carbide consumables are currently an expanding market that is more than 90% recurring and that is expected to grow by more than 10% a year,” said Corey Rucci, president and chief operating officer of Poco Graphite. “We’re excited to become part of Entegris, a relationship that should create new opportunities for our products, our customers and, above all, our people.”
Rucci will lead this new Entegris business following completion of the transaction, which is subject to Hart-Scott-Rodino review and other customary conditions. Upon completion, which is expected to occur in the third quarter of 2008, Poco will become a wholly owned, Decatur, Texas-based subsidiary of Entegris.
A replay of a recent conference call discussing the transaction can be accessed by calling (888) 203-1112 or (719) 457-0820 and using passcode 3436574. A webcast of the call can also be accessed from the investor relations section of Entegris’ website at www.entegris.com. Poco’s website is located at www.poco.com.