Aurora, IL, Nov. 07, 2016 (GLOBE NEWSWIRE) -- Cabot Microelectronics Corporation (Nasdaq: CCMP), the world's leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, and Konfoong Materials International Co., Ltd. (KFMI), a privately-owned, China-based company specializing in developing and manufacturing ultra-high purity metal materials and sputtering targets for the semiconductor and integrated circuit industries, today announced their collaboration to provide advanced CMP pads to China's rapidly growing semiconductor industry.The collaboration combines certain Cabot Microelectronics' NexPlanar pad technology with KFMI's experience in materials manufacturing technology and deep access into China's expanding semiconductor industry. The China semiconductor industry is expected to grow rapidly over the next decade based on Chinese government policy to become increasingly self-sufficient in semiconductor supply."This collaboration represents each organization's strong commitment to provide semiconductor manufacturers in China with reliable, local manufacture of the most advanced CMP pad technology available today," said David Li, President and CEO of Cabot Microelectronics. "We are proud to partner on this exciting initiative with KFMI, which has established itself as a global technology and manufacturing leader in the area of sputtering targets, retaining rings and conditioning disks for the semiconductor industry."As part of the collaboration, KFMI will supply CMP pads at its China facilities utilizing certain technology of Cabot Microelectronics, to semiconductor device manufacturers in China under KFMI's brand."KFMI is proud to enter into this collaboration with Cabot Microelectronics, which is a leader in CMP slurries and has a strong reputation for providing innovative high-performing and high-quality CMP consumable materials," stated Dr. Lijun Yao, President and CEO of KFMI. "We have demonstrated the ability to manufacture and market materials with strict quality standards to a similar customer base, and we look forward to combining our capabilities to serve the rapidly growing semiconductor industry in China."
ABOUT CABOT MICROELECTRONICS Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, USA, is the world's leading supplier of CMP polishing slurries and a growing CMP pad supplier to the semiconductor industry. The company's products play a critical role in the production of advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. The company's mission is to create value by developing reliable and innovative solutions, through close customer collaboration, that solve today's challenges and help enable tomorrow's technology. The company has approximately 1,125 employees on a global basis. For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com or contact Trisha Tuntland, Director of Investor Relations at 630-499-2600. ABOUT KONFOONG MATERIALS INTERNATIONAL Konfoong Materials International Co., Ltd, headquartered in Ningbo, Zhejiang, PRC, is a high-technology, privately-owned, China-based company, founded in 2005. The company specializes in developing and manufacturing ultra-high purity metal materials and sputtering targets for the semiconductor and integrated circuit industries. The company has demonstrated expertise in quickly ramping high-capacity manufacturing to meet stringent quality requirements. The company is focused on serving the China market, but also sells its products in Europe, North America and throughout Asia. The company's mission is great quality ensures the future. It has approximately 660 employees on a global basis. For more information about Konfoong Materials International, visit www.kfmic.com. SAFE HARBOR STATEMENT This news release may include statements that constitute "forward looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to: future sales and operating results; growth or contraction, and trends in the industry and markets in which the company participates; the company's management; various economic factors and international events; regulatory or legislative activity; product performance; the generation, protection and acquisition of intellectual property, and litigation related to such intellectual property; new product introductions; development of new products, technologies and markets; the company's supply chain; natural disasters; the acquisition of, investment in, or collaboration with other entities; uses and investment of the company's cash balance, including dividends and share repurchases, which may be suspended, terminated or modified at any time for any reason, based on a variety of factors; financing facilities and related debt, payment of principal and interest, and compliance with covenants and other terms; the company's capital structure; the company's current or future tax rate; and the operation of facilities by Cabot Microelectronics Corporation. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics' filings with the SEC, that could cause actual results to differ materially from those described by these forward-looking statements. In particular, see "Risk Factors" in the company's quarterly report on Form 10-Q for the quarter ended June 30, 2016 and in the company's annual report on Form 10-K for the fiscal year ended September 30, 2015, both filed with the SEC. Cabot Microelectronics assumes no obligation to update this forward-looking information.
Trisha TuntlandDirector, Investor Relations630-499-2600