Brief: Materion To Acquire H.C. Starck’S Electronic Materials Portfolio

Materion

20/09/2021 12:09

Sept 20 (Reuters) - Materion Corp  MTRN.N :
    * MATERION TO ACQUIRE H.C. STARCK’S ELECTRONIC MATERIALS
PORTFOLIO, CREATING A GLOBAL LEADER IN PREMIUM THIN FILM
MATERIALS FOR THE SEMICONDUCTOR MARKET
    * MATERION CORP - DEAL FOR PURCHASE PRICE OF $380 MILLION
    * MATERION CORP - HCS-ELECTRONIC MATERIALS IS EXPECTED TO
GENERATE
REVENUE OF ABOUT $145 MILLION IN 2021
    * MATERION CORP - FOLLOWING CLOSING OF TRANSACTION,
HCS-ELECTRONIC
MATERIALS WILL BE PART OF CO'S ADVANCED MATERIALS SEGMENT
    * MATERION CORP - EXPECTS TO FINANCE TRANSACTION UTILIZING A
NEW
TERM LOAN ALONG WITH BORROWINGS FROM ITS REVOLVING CREDIT
AGREEMENT
    * MATERION CORP - DEAL IS EXPECTED TO BE IMMEDIATELY
ACCRETIVE TO
CO'S ADJUSTED EPS AND ADJUSTED EBITDA MARGINS BY 100 BASIS
POINTS
    * MATERION CORP - TRANSACTION IS EXPECTED TO INCREASE ANNUAL
VALUE-ADDED SALES BY OVER 19%
    * MATERION CORP - EXPECTS TO GENERATE STRONG CASH FLOW AND
DEPLOY
IT TOWARDS DELEVERAGING TO MIDDLE OF RANGE WITHIN 24 MONTHS POST
CLOSE

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