Entegris Buying Poco
CHASKA, Minn., July 14, 2008 -- Entegris, a maker of products for semiconductor and flat panel display processes, today announced it will acquire privately held Poco Graphite Inc. in an all-cash transaction valued at $158 million.
Poco Graphite, based in Decatur, Texas, manufactures specialty graphite, silicon carbide and other advanced materials for use in semiconductor and general industrial products, biomedical and glass industry products and electrical discharge machining. Forty percent of the company's revenue last year, which topped $60 million, was from sales to semiconductor-related businesses.
Entegris said the deal extends its position in the semiconductor market and adds complementary products in other high-performance industries.
"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 percent 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,” said Gideon Argov, president and CEO of Entegris.
Under the transaction, Poco will remain in Decatur as a wholly owned subsidiary of Entegris. Corey Rucci, president and COO of Poco Graphite, will continue on as head of the new subsidiary.
The deal, which is subject to regulatory review and other conditions, is expected to close in the third quarter of 2008 and be accretive to Entegris' earnings per share in 2009.
For more information, visit: www.entegris.com