Strategic acquisition exceeds expectations nearly one year following close
MAYFIELD HEIGHTS, Ohio, October 04, 2022--(BUSINESS WIRE)--Materion Corporation (NYSE: MTRN), a world leader in high-performing advanced materials, announced today that it is investing more than $20 Million in its recently acquired Newton, Massachusetts facility. The investments will significantly broaden capacity for materials used in semiconductor chip manufacturing and facilitate the continued development of products to support the logic and advanced chips found in today’s most powerful electronic devices.
The Newton site became part of Materion through the company’s acquisition of HCS-Electronic Materials in November 2021. As part of its successful integration of the business, Materion has achieved several significant milestones, including increasing output of high-value tantalum products by more than 20 percent.
"As a result of the dedication and commitment of our newly combined team, this acquisition has exceeded our expectations on a number of fronts and accelerated our transformation into a leading global provider of high-tech electronic materials solutions aligned with some of the most compelling global megatrends," Jugal Vijayvargiya, President and CEO said. "As our expanded base of semiconductor customers continues to address demand for faster and more connected products everywhere, we are looking forward to serving them with expanded capacity and technical expertise."
The Newton facility utilizes proprietary technology and extensive material science know-how to deliver tantalum- and niobium- based premium products and services for the semiconductor, industrial, and aerospace & defense markets. Materion’s acquisition of the business has enabled the company to build on its existing portfolio of electronic materials and premium thin film target solutions, significantly enhancing the company’s position as a leading global supplier to the high-growth semiconductor industry.
Since the acquisition, the company has increased the site workforce by 27 percent and implemented operational excellence initiatives to increase output and meet growing customer demand. These new investments will build on the site’s strong foundation of expertise producing extremely pure, texture-controlled tantalum materials that are critical in the production of the most advanced semiconductor chips, which are on track for significant growth over the next decade.
Materion Corporation is headquartered in Mayfield Heights, Ohio. Materion, 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.
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