Isn't this curious?
/FROM PR NEWSWIRE DETROIT 248-352-5200/
[STK] DOW GLW
[IN] CHM
[SU] TNM
TO BUSINESS EDITOR:
Dow Corning Broadens its Capability in Silicon Carbide Substrates;
Acquires Sterling Semiconductor
MIDLAND, Mich., Jan. 27 /PRNewswire-FirstCall/ -- Dow Corning Corp. today
announced the acquisition of the assets of Sterling Semiconductor Inc. for
$11.2 million. Dow Corning will acquire the manufacturing and research and
development assets of Sterling, an industry leader in manufacturing silicon
carbide (SiC), in Danbury, Conn. and Tampa, Fla. and will hire 32 of
Sterling's current employees.
Dow Corning has transformed itself from a company focused on products to a
solutions company that is organized around the needs of its customers around
the world. Dow Corning's New Ventures Business has been investing in silicon
carbide and gallium nitride substrate technologies for the compound
semiconductor industry. "This investment will provide Dow Corning with a new
opportunity to build on its core silicon-based technology and solutions
strength; and demonstrate to existing and potential customers our deep
commitment to this industry segment," said Dave Cornelius, Executive Director
of Dow Corning New Ventures Business.
About Dow Corning
Dow Corning (www.dowcorning.com ), which develops, manufactures and
markets diverse silicon-based products, currently offers more than 10,000
products to customers around the world. Dow Corning is a global leader in
silicon-based materials, with shares equally owned by The Dow Chemical Company
(NYSE:DOW) and Corning Incorporated (NYSE:GLW). More than half of Dow
Corning's sales are outside the United States.
SOURCE Dow Corning Corp.
-0- 01/27/2003
/CONTACT: Kevin M. Wiggins, +1-989-496-8835, or Linda Coughlin,
+1-989-496-3475, both of Dow Corning Corp./
/Web site: dowcorning.com / |
