Here is another important acquisition. It will make sense very soon:
Innovative Specialty Films,LLC. (ISF) acquires CPSI, Inc.
(doing business as "NeoVac").
Innovative Specialty Films, LLC (ISF), a 50/50 joint venture company between MSC Specialty Films Inc. and Bekaert Corporation (a 100 % subsidiary of the Bekaert Group and part of Bekaert's Advanced Materials Division), announced today the acquisition of NeoVac.
NeoVac, located at Santa Rosa (California, USA), is a leading designer, manufacturer and marketer of transparent conductive oxide coatings (indium tin oxide - ITO) for use in electroluminescent lamp and touch screen applications, a fast growing market.
The acquisition of NeoVac, brings a number of new developments in the field of ITO deposition, significantly augmenting ISF's existing capacity, technology and capability to produce ITO (ISF trademark T-MOX) and satisfying projected market demands. With one production sputter roll coater in full production and a second larger state of the art machine due to come on line in the third quarter of 2001, the Santa Rosa facility is to become ISF's centre of excellence for ITO development and production in the US. The acquisition of this technology fits perfectly within Bekaert's strategic objective to build a business in "coatings" and will speed up the time to market the product.
Gary Phillips, ISF's VP Sales and Marketing said: "The global market for sputtered ITO film for both electroluminescent lamp and touch panel applications is expanding rapidly. With most cell phones and automotive instrument panels incorporating an electroluminescent lamp and rapid expansion in the utilisation of computer touch screens, demand for ITO film promises double digit growth in the coming years. ISF has been marketing successfully ITO coated products manufactured at their Zulte (Belgium) plant. By utilising state of the art technology and combining the strengths of ISF and NeoVac, ISF will become the market leader, offering products and services that are unmatched in the industry".
John Fenn, NeoVac's President commented that the rapid market growth of touch panels and electroluminescent lamps, particularly in South East Asia, has resulted in a significant increase in demand for ITO. The merging of NeoVac into ISF will enable us to take full advantage of this opportunity in a timely fashion. We also look forward to develop new markets and products for sputter deposited materials by combining the technical resources of both companies.
ISF is a market leader in the production, development and marketing of highly specialised sputtered thin films onto flexible polymeric substrates. With sales offices in the USA, Belgium and Japan, ISF has, since its formation, enjoyed rapid growth in a number of business segments it serves which include solar control window film, soft magnetic anti counterfeit materials, flex circuits, photoreceptors, imaging media and a number of proprietary industrial sectors. With manufacturing facilities in San Diego, Raleigh Durham and Zulte, Belgium, ISF is one of the worlds' foremost sputter roll- coating companies. The collective sales of ITO sputtered film by NeoVac and ISF are expected to grow to over USD 25 million within five years from now.
MSC Specialty Films Inc. (MSC/SFI) a subsidiary of Material Sciences Corporation (MSC), listed on the New York Stock Exchange, is headquartered in San Diego (California, USA). MSC/SFI, with last year sales of USD 58 million, is a world leader in the development and manufacture of energy saving solar control and safety window film products.
The Bekaert Group (www.bekaert.com), a world leader in advanced metal transformation and coating technologies is a technology driven Group, having its headquarters in Belgium. Total turnover of the Bekaert Group in 2000 was EUR 2.7 billion. Founded in 1880, the company has more than 80 production plants world-wide and has 17,200 employees.
END OF THIS PRESS RELEASE
For any further information, please contact:
Gary Phillips
VP Sales and Marketing
Innovative Specialty Films LLC
4540 Viewridge Avenue
San Diego, CA 92123
USA
Phone : 858-614-1268
Fax : 858-614-1468
e-mail : phillips@matsci.com |
