Materion Corporation (NYSE:MTRN) announced today that it has completed the acquisition of Aerospace Metal Composites Limited (AMC) of Farnborough, England. Terms were not disclosed.
AMC is a leading producer of unique, high performance ultrafine particulate reinforced metal matrix composites, comprised primarily of aluminum materials. AMC materials are available as billet, plate, forging stock, bulk and precision extrusions. AMC supplies its products to a large variety of customers and applications including performance automotive, aerospace, defense and precision/high speed machinery.
AMC will be managed through the Beryllium and Composites segment of the Company. The AMC product line is complementary to Materion's powder metal-derived beryllium metal-based product lines, including AlBeMet™.
Commenting on the acquisition, Richard J. Hipple, Materion Corporation Chairman, President and CEO, said, “We are excited to welcome AMC to the Materion organization. There are important technology and marketing synergies among the AMC and Materion businesses which can be leveraged to capture future growth. AMC augments our technology and allows us to provide new material solutions for our customers. We expect this acquisition to enable us to expand our platform of applications in the aerospace and defense markets, and possibly the semiconductor equipment market. Further, current AMC customers will benefit from the global range of Materion’s R&D, manufacturing and distribution capabilities.”Materion Corporation, through its wholly owned subsidiaries, supplies highly engineered advanced enabling materials to global markets. Products include precious and non-precious specialty metals, inorganic chemicals and powders, specialty coatings, specialty engineered beryllium alloys, beryllium and beryllium composites, and engineered clad and plated metal systems. Headquartered in Mayfield Heights, Ohio, the Company serves customers in more than 50 countries. It has operating, service center and major office locations throughout North America, Europe and Asia, and employs approximately 3,000 people worldwide.