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[June 2003]
Cabot Acquires Assets of Superior MicroPowders
Cabot Corporation (Boston, MA, USA) has purchased the assets of Superior MicroPowders LLC (SMP), a privately owned company located in Albuquerque, New Mexico, USA. SMP is an advanced materials development and manufacturing company with proprietary nanopowder and micropowder production systems and manufacturing capability. While in the development stage, SMP has been working with several major companies to develop particle applications for use in the electronics, fuel cell, display and other markets.
The purchase price for the acquisition was approximately US$16 million. Cabot believes that a significant portion of the purchase price will be allocated to in-process research and development, which is required to be immediately charged to expense.
Barry Neal has been named General Manager of the SMP organisation. He was previously Director of R&D with Cabot Supermetals in Boyertown, PA, USA. For the past year he has led the integration of Cabot Supermetals in Japan.
Cabot's Chairman and CEO Kennett Burns said: "We are excited about the expertise and technology that SMP brings because it will allow Cabot to continue expanding our technology to areas that complement our existing markets and provide opportunities for future new business growth. This acquisition of SMP is consistent with Cabot's strategy to expand our business portfolio into high value-added markets".
ENDS