Cabot Microelectronics signs non-binding MoU to expand capabilities in South Korea

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 entered into a non-binding Memorandum of Understanding (MoU) with the Gyeonggi Province of South Korea to potentially establish manufacturing and research and development capabilities in the region.

The signing ceremony was held at Cabot Microelectronics Corporation's headquarters in Aurora, Illinois on September 27, 2010 and was attended by the Governor of Gyeonggi Province, Moon-Soo Kim.

The MoU reflects a potential aggregate investment by the Company of approximately $10 million in Gyeonggi Province. The potential investment would provide expanded capabilities in South Korea to serve the needs of the Company's advanced memory customers.

Ben Han, Cabot Microelectronics' Country Manager of Korea, stated, "This potential investment supports our strategic initiative to get closer to our Asian customers and our continued focus on building strong customer relationships and supply capabilities in Korea."