Cabot Microelectronics completes second closing of acquisition of Epoch Material

AURORA, USA: Cabot Microelectronics Corp., a leading supplier of chemical mechanical planarization (CMP) polishing slurries and growing CMP pad supplier to the semiconductor industry, has completed the second closing of its two-step acquisition of Epoch Material Co. Ltd (Epoch), a copper CMP slurry provider in Taiwan, on August 27, 2010.

As previously disclosed, Cabot Microelectronics initially obtained 90 percent of Epoch's stock in February 2009, and with this second closing, the remaining 10 percent was transferred to the company from Eternal Chemical Co. Ltd (Eternal Chemical). The total acquisition price was approximately $66 million, all of which was paid or escrowed at the first closing.

"We are pleased to have successfully integrated Epoch into our company over the past 18 months, with the support of Eternal Chemical," said William Noglows, chairman and CEO of Cabot Microelectronics.

"We are delighted that this acquisition has allowed us the opportunity to expand our presence in Taiwan, enhancing our ability to better serve and collaborate with our customers. In our view, this acquisition has also strengthened our copper CMP slurry portfolio and has enabled us to leverage cost savings opportunities across our combined organization."