Ceramic products manufacturer, Ceradyne, has purchased a minority stake coupled with an option for complete acquisition of Graphite Machining Services and Innovations (GMSI).
Based in Tempe, Arizona, GMSI adopts a proprietary technique to coat precision shaped graphite with silicon carbide ceramic that is chemical vapor deposited (CVD). The ensuing product is employed in Light Emitting Diode (LED) manufacture.
Since its inception in 1984, GMSI has concentrated on precision shaping of graphene of ultra-high quality. GMSI shifted focus to the LED and semiconductor market owing to the demand for modern components employed in the Metal Organic Chemical Vapor Deposition (MOCVD) process for manufacturing LEDs.
David Reed, Ceradyne’s President for North America, stated that the small acquisition was well aligned with Ceradyne’s diversification strategy. He expressed expectation of rapid growth in the environment friendly LED lighting market in the coming decade. Reed also commended GMSI President Peter Guercio and partners Dale Beeck and Rex Dillman to be valuable additions to Ceradyne.
Peter Guercio, President of GMSI, stated that the collaboration with Ceradyne was perfect as the company envisages the need for resources and support from a bigger technology organization to charter its growth in the mushrooming LED market. There is no material consequence to the 2012 financial performance of Ceradyne as a result of its acquisition of the minority stake in GMSI.
Ceradyne develops, produces and markets sophisticated technical ceramic products and parts for automotive/diesel, defense, energy, industrial, and commercial applications.
Source: http://www.ceradyne.com/