MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Materion Corporation (NYSE: MTRN) announced today that its Advanced Materials business segment is currently in discussions with Heraeus Group of Hanau, Germany regarding an acquisition by Materion of the Heraeus high-performance target materials business.
Heraeus manufactures precious and non-precious metal target materials for the architectural and automotive glass, electronic display, photovoltaic, semiconductor and media data storage markets at facilities in Germany, the United States, Singapore, China and Taiwan.
Donald G. Klimkowicz, President, Materion Advanced Materials, commented, “This opportunity would significantly broaden Materion’s target materials product breadth and market and geographic reach, allowing us to better serve customers, while also deepening our technological capabilities and talent base, especially throughout Europe and Asia.”
Richard J. Hipple, Materion Chairman, President and Chief Executive Officer, added, “This exciting potential acquisition would expand and strengthen our Advanced Materials business segment, resulting in a combined portfolio of differentiated products serving customers across a broader set of markets with stronger global capabilities. We look forward to working with the Heraeus management team to progress these discussions in a timely manner.”
The Company noted that there can be no assurance that a definitive agreement will be entered into or that a transaction, which would be subject to customary closing conditions, will be consummated. The Company said that it does not intend to make any further comments on the discussions until they are concluded.
FORWARD-LOOKING STATEMENTS
Portions of the narrative set forth in this document that are not statements of historical or current facts are forward-looking statements, in particular, the outlook provided above. Our actual future performance may materially differ from that contemplated by the forward-looking statements as a result of a variety of factors.
These factors include, in addition to those mentioned elsewhere herein:
- Actual net sales, operating rates and margins for 2016;
- Our ability to strengthen our internal control over financial reporting and disclosure controls and procedures;
- The global economy;
- The impact of any U.S. Federal Government shutdowns and sequestrations;
- The condition of the markets which we serve, whether defined geographically or by segment, with the major market segments being: consumer electronics, industrial components, medical, automotive electronics, defense, telecommunications infrastructure, energy, commercial aerospace and science;
- Changes in product mix and the financial condition of customers;
- Our success in developing and introducing new products and new product ramp-up rates;
- Our success in passing through the costs of raw materials to customers or otherwise mitigating fluctuating prices for those materials, including the impact of fluctuating prices on inventory values;
- Our success in identifying acquisition candidates and in acquiring and integrating such businesses;
- The impact of the results of acquisitions on our ability to fully achieve the strategic and financial objectives related to these acquisitions;
- Our success in implementing our strategic plans and the timely and successful completion and start-up of any capital projects;
- The availability of adequate lines of credit and the associated interest rates;
- Other financial factors, including the cost and availability of raw materials (both base and precious metals), physical inventory valuations, metal financing fees, tax rates, exchange rates, pension costs and required cash contributions and other employee benefit costs, energy costs, regulatory compliance costs, the cost and availability of insurance, and the impact of the Company’s stock price on the cost of incentive compensation plans;
- The uncertainties related to the impact of war, terrorist activities and acts of God;
- Changes in government regulatory requirements and the enactment of new legislation that impacts our obligations and operations;
- The conclusion of pending litigation matters in accordance with our expectation that there will be no material adverse effects;
- The success of the realignment of our businesses; and
- The risk factors as set forth in Part 1, Item 1A of our Form 10-K for the year ended December 31, 2015.
Materion Corporation is headquartered in Mayfield Heights, Ohio. The Company, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems.
