News Article
Carbone Lorraine Buys Calcarb
The company acquires Calcarb's rigid graphite felt for use in solar energy market.
Carbone Lorraine, a provider of graphite materials and solutions, announces the acquisition of Calcarb, the second largest manufacturer of rigid graphite felt for the solar industry. This venture compliments Carbone Lorraine's position in graphite solutions for solar, industrial, semiconductor and high temperature furnace components.
Claude Cocozza, chairman and CEO of Carbone Lorraine comments; "By acquiring Calcarb, Carbone Lorraine is presented with a unique opportunity that fits in with our '2011 Expansion Business Plan'. We are pleased to have been able to see this acquisition through successfully."
Calcarb's reputation for high quality products will enable Carbone Lorraine to make a strong and profitable growth in the graphite insulation market and strengthen its position in the solar energy market. Sales growth is expected to grow at a rate of 15% per year based on demand in the solar energy market. The new division is expected to generate sales of $50 million from its products in 2009. Carbone Lorraine will acquire 60% of the company's shares by December 31, 2008 and has an option to increase its stake to 100% that can be exercised at any time in 2009. The acquisition is financed by debt.
Calcarb's products will benefit from the Carbone Lorraine international sales and support network, giving the group access to markets not serviced previously. Calcarb's rigid graphite compliments Carbone Lorraine's High Temperature Division's current range of products including rigid and flexible graphite felts. Rigid felts are used as a sophisticated form of insulation in extremely high temperature furnaces found in the semiconductor and solar energy markets. This graphite insulation offers exceptional thermal properties in furnace operations.
Calcarb was a subsidiary of Inductotherm, which specialises in vacuum and induction furnaces. Calcarb, headquartered in Scotland, manufactures high purity Carbon Bonded Carbon Fibre (CBCF) based rigid insulation and precursor materials for vacuum and controlled atmosphere furnaces. In 2008, Calcarb moved into a new manufacturing facility, doubling its annual production capacity of low and medium density carbon based products.
Claude Cocozza, chairman and CEO of Carbone Lorraine comments; "By acquiring Calcarb, Carbone Lorraine is presented with a unique opportunity that fits in with our '2011 Expansion Business Plan'. We are pleased to have been able to see this acquisition through successfully."
Calcarb's reputation for high quality products will enable Carbone Lorraine to make a strong and profitable growth in the graphite insulation market and strengthen its position in the solar energy market. Sales growth is expected to grow at a rate of 15% per year based on demand in the solar energy market. The new division is expected to generate sales of $50 million from its products in 2009. Carbone Lorraine will acquire 60% of the company's shares by December 31, 2008 and has an option to increase its stake to 100% that can be exercised at any time in 2009. The acquisition is financed by debt.
Calcarb's products will benefit from the Carbone Lorraine international sales and support network, giving the group access to markets not serviced previously. Calcarb's rigid graphite compliments Carbone Lorraine's High Temperature Division's current range of products including rigid and flexible graphite felts. Rigid felts are used as a sophisticated form of insulation in extremely high temperature furnaces found in the semiconductor and solar energy markets. This graphite insulation offers exceptional thermal properties in furnace operations.
Calcarb was a subsidiary of Inductotherm, which specialises in vacuum and induction furnaces. Calcarb, headquartered in Scotland, manufactures high purity Carbon Bonded Carbon Fibre (CBCF) based rigid insulation and precursor materials for vacuum and controlled atmosphere furnaces. In 2008, Calcarb moved into a new manufacturing facility, doubling its annual production capacity of low and medium density carbon based products.
