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Cookson to Sell Polyclad Laminates to Isola
December 15, 2005 |Estimated reading time: 1 minute
LONDON — Cookson Group plc, Cookson Electronics' parent company, has entered into an agreement to sell Polyclad Laminates, Inc. to Isola Group, Sarl, for US$91 million. Completion of the transaction is conditional on satisfactory clearance from the European anti-trust authorities, and is expected in February 2006.
"The third quarter trading update, announced in early November, highlighted the solid progress we are making in achieving the profitability targets announced at the beginning of this year," comments Nick Salmon, Cookson Group plc's CEO. "This transaction represents a significant step in the achievement of one of our other strategic objectives, progressive debt reduction."
"The sale of Polyclad Laminates to Isola enables Cookson Electronics to provide increased resources and a greater focus on delivering emerging technologies to meet the current and future needs of our customers," says Steven J. Corbett, Cookson Electronics' CEO. "Specifically, we will continue our strong investment throughout the Asia-Pacific region, as well as strengthen our global OEM programs to the industrial surface finishing, automotive, semiconductor fabrication and PWB assembly markets."
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