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Williams Advanced Materials Inc. Adds to Its Vapor Deposition Capabilities with Acquisition of Thin Film Technology, Inc.

Published on 2005-10-04. Author : SpecialChem

BUFFALO, N.Y.-- Williams Advanced Materials Inc. (WAM), a wholly-owned subsidiary of Brush Engineered Materials Inc. (NYSE:BW - News), announced that it has acquired privately held Thin Film Technology, Inc. (TFT), a leading provider of precision optical coatings, photo lithography, thin film hybrid circuits, and specialized thin film coatings and services. The purchase price was approximately $9 million.

Thin Film Technology has 55 employees at its 35,000 square foot manufacturing facility in Buellton, California. TFT has developed unique capabilities to deposit films required in a number of high technology applications, including most recently, near infrared and infrared optics. The company has a diverse range of customers serving defense, medical and other growing commercial markets.

Commenting on the acquisition, Richard W. Sager, WAM President, said, "TFT is an extremely important addition to Williams as it broadens and deepens our vapor deposition capabilities - an area where we are enjoying significant growth and profitability. As with our purchase of OMC Scientific Holdings in Ireland several months ago, this acquisition fits extremely well with our investment strategy of adding high quality, complementary businesses to further serve our customers on a global basis."

WAM and TFT have for the past several years been strategic business partners on a new product line for Williams Advanced Materials' VisiLid(TM) window assemblies designed for hermetically sealing optoelectronic devices. The product line combines the thin film optical coating and metalization technologies perfected by TFT with the machining and soldering process technologies pioneered by WAM for such applications as night vision, thermal imaging, telecommunications equipment and image sensors. Bringing TFT into the Williams organization will allow WAM to support the continued growth of VisiLid(TM) products.

Headquartered in Buffalo, New York, Williams Advanced Materials manufactures precious, non-precious and specialty metal products at facilities in New York, California and Asia, and provides precision cleaning and reconditioning services for physical vapor deposition customers at facilities in the U.S. and Ireland. Major markets for WAM's products include magnetic and optical data storage, the wireless, semiconductor, photonic and hybrid segments of the microelectronics markets. Its sales in 2004 were $165.7 million.

Brush Engineered Materials Inc. (NYSE:BW - News) is headquartered in Cleveland, Ohio. The Company, through its wholly-owned subsidiaries, supplies worldwide markets with beryllium products, alloy products, electronic products, precious metal products, and engineered material systems.

Source: Williams Advanced Materials Inc.


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