Morgan Technical Ceramics acquires Certech and Carpenter Advanced Ceramics in £73 million deal

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MTC317
Issue Date: 2nd April 2008

Morgan Technical Ceramics’ parent company, The Morgan Crucible Company plc, has acquired Certech and Carpenter Advanced Ceramics from US firm Carpenter Technology Corporation. The businesses have been acquired on a cash and debt free basis for a cash consideration of around US$145million (c. £73 million) and the combination of the three organisations creates one of the largest technical ceramics companies in the world.

The acquisition expands Morgan Technical Ceramics’ workforce to 3000 and its manufacturing sites now cover four continents, with 24 worldwide. Those acquired as part of the deal are: San Juan del Rio (Mexico); Melbourne (Australia); five US sites (Wood-Ridge, Carlstadt, Wilkes-Barre, Auburn, Twinsburg) and two in the UK (Derby, Corby).

“The Morgan Technical Ceramics organisation is a natural home for Carpenter’s ceramic businesses,” said Andrew Hosty, CEO of the Technical Ceramics division. Dr Hosty continued: “This deal is about sales growth and technology development, and opens exciting opportunities, especially in our key markets of aerospace, power generation and medical equipment.

Certech is the number one global independent manufacturer of a broad range of complex, injection-moulded, consumable ceramic components, which are used during the investment casting of turbine blades and vanes for aerospace engines and industrial gas turbines, and some high-end industrial castings. The business also manufactures a range of other porous ceramics and foundry supplies.

Carpenter Advanced Ceramics is a manufacturer of engineered technical ceramics and offers a world beating range of zirconia ceramics. The company is also well known for its high purity alumina with products largely used in corrosive and/or high wear applications.

Both acquisitions strongly align with Morgan Crucible’s strategy of focusing on higher growth, higher margin, less economically cyclical markets and further enhances the company’s value-added offering to its customers across the globe.

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