CeramTec announces acquisition of UK electro-ceramics business from Morgan Advanced Materials.
CeramTec announces today that it has agreed the acquisition of the UK electro-ceramics business (“UK Electro-Ceramics”), comprising two manufacturing sites at Ruabon and Southampton, from Morgan Advanced Materials plc. The transaction will be structured as a sale of the business, assets and goodwill for an enterprise value of £47m, which will be funded from cash on the balance sheet and payable at completion, which is expected in April 2017.
