Materion acquires optical components producer EIS Optics

Advanced materials supplier Materion Corporation (NYSE:MTRN), which serves the biomedical market, has acquired EIS Optics Ltd., a producer of thin film optical filters, glass processing, lithography and optical subassemblies.

Advanced materials supplier Materion Corporation (MTRN; Mayfield Heights, OH), which serves the biomedical market, has acquired EIS Optics Ltd. (Shanghai, China), a producer of thin film optical filters, glass processing, lithography and optical subassemblies. The acquisition is expected to enable the development of new technology and extend the range of applications, as EIS Optics' products serve the biomedical instrumentation industry.

The acquisition brings an Asian manufacturing base that will enable Materion to better serve their rapidly growing Asian optical coatings businesses. EIS Optics also complements Materion’s existing leadership position in thin film optical filters that enable complex technologies and components throughout the biomedical, defense, aerospace, energy, semiconductor, telecommunications, lighting and astronomy markets.

The transaction, valued at approximately $24 million, was financed with internally generated cash and borrowings under Materion’s $325 million revolving line of credit. Costs related to the acquisition will negatively impact 2011 earnings by approximately $0.03 per share in the third quarter and up to approximately $0.10 per share in the fourth quarter.

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