Last week, the news that Morgan Advanced Materials plans to divest (or potentially close) its Composite and Defence Systems Business garnered a massive amount of reader interest (Morgan Advanced Materials Seeks Buyers for Composite and Defence Systems Business): “Morgan Advanced Materials recently announced that its board has decided to exit the Composite and Defence Systems business. The exit will take the form of the potential divestment of certain product lines, should a suitable acquirer be found, along with the closure of the remainder of the business lines. Discussions with potential acquirers of certain product lines are reportedly at an early stage, and there can be no certainty that any divestments will be made. The provisional cash exit costs from closing the Composites and Defence Systems business are anticipated to be around £6 million (approximately $8.4 million), which may be partially offset by any proceeds from the divestment of certain product lines and the sale of certain fixed assets of the business.
“In a recent trading update, Morgan announced that its sales for the first three months to March 2018 were 6.5% higher, on an organic constant currency basis, compared to the first quarter of last year.”
What effect do you think this action will have on the market for composites and ceramics in the defense industry? Please contact me at (248) 786-1704 or email@example.com to share your thoughts.
Top 5 Hottest News Stories for April 29 - May 5
1. Morgan Advanced Materials Seeks Buyers for Composite and Defence Systems Business #5 last week
2. CoorsTek’s Active Ceramic Membrane Technology Wins 2018 GOLD Edison Award
3. Corning Announces First Quarter 2018 Results, Reaffirms Strong Outlook
4. Kohler Waste Lab Explores New Uses for Industrial Materials
5. Kyocera Exhibiting Fine Ceramic Components at Hannover Messe
This weekly roundup highlights the ceramic, glass, refractories, brick and related news stories that garnered the most attention during the previous week on our website, as well as our eNewsletters and social media platforms.