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[February 2003]
Dow Corning Broadens Capability in SiC Substrates via Acquisition
Dow Corning Corporation (Midland, MI, USA) announced on 28 January 2003 the acquisition of the assets of Sterling Semiconductor Inc for US$11.2 million. Dow Corning will acquire the manufacturing and research and development assets of Sterling, an industry leader in manufacturing silicon carbide in Danbury, CT and Tampa, FL and will hire 32 of Sterling's current employees.Dow Corning says that it has transformed itself from a company focused on products to a solutions company that is organised around the needs of its customers around the world. Dow Corning's New Ventures Business has been investing in silicon carbide and gallium nitride substrate technologies for the compound semiconductor industry.
"This investment will provide Dow Corning with a new opportunity to build on its core silicon-based technology and solutions strength; and demonstrate to existing and potential customers our deep commitment to this industry segment," said David Cornelius, Executive Director of Dow Corning New Ventures Business.
Dow Corning develops, manufactures and markets diverse silicon-based products and services and currently offers more than 7,000 products to over 25,000 customers around the world. The corporation is a global leader in silicon-based materials with shares equally owned by The Dow Chemical Company and Corning Inc. More than half of Dow Corning's US$2.7 billion in annual sales are outside the USA.
ENDS