Cabot Corporation Acquires Assets Of Superior MicroPowders, LLC

03-Jun-2003

Cabot Corporation announced today that it has purchased the assets of Superior MicroPowders, LLC (SMP), a privately-held company located in Albuquerque, New Mexico. SMP is an advanced materials development and manufacturing company with proprietary nano- and micro- powder production systems and manufacturing capability. While in the development stage, SMP has been working with several major companies to develop particle applications for use in the electronics, fuel cell, display, and other markets.

The purchase price for the acquisition was approximately $16 million. Cabot believes that a significant portion of the purchase price will be allocated to in-process research and development, which is required to be immediately charged to expense.

Barry Neal has been named General Manager of the SMP organization. Previously, Mr. Neal was the Director, Research and Development, Cabot Supermetals, located in Boyertown, PA. For the past year, Mr. Neal has led the integration of Cabot Supermetals, in Japan.

SMP was founded in 1997 by Dr. Toivo Kodas and Dr. Mark Hampden-Smith, two leaders in the field of aerosol processing of materials. Both Dr. Hampden-Smith and Dr. Kodas, as technical directors, will continue to lead the efforts to integrate SMP technology into Cabot.

Kennett F. Burnes, Cabot Chairman and CEO said, "We are excited about the expertise and technology that SMP brings because it will allow Cabot to continue expanding our technology to areas that complement our existing markets and provide opportunities for future new business growth. This acquisition of SMP is consistent with Cabot's strategy to expand our business portfolio into high value-added markets."

https://www.chemeurope.com/en/news/23895/cabot-corporation-acquires-assets-of-superior-micropowders-llc.html