20:00 | 21.10.2019
CoorsTek agrees to sell Gaiser assets to SPT/Small Precision Tools
CoorsTek, Inc., a leading global manufacturer of engineered ceramics, has entered into an agreement to sell select assets from its facility in Ventura, Calif., the “Gaiser facility,” to SPT/Small Precision Tools.
“Our Gaiser facility makes small tools for the back-end semiconductor processing market under the Gaiser brand and CoorsTek has decided to exit this market segment. Through the end of December, we will continue to deliver the highest quality products to our customers up until we close the operation and transition those assets to SPT,” says Jay Voncannon, chief financial officer for CoorsTek.
“Gaiser is highly complementary to SPT’s product and customer portfolio. Both were pioneers in the Semiconductor Bonding Tools business with over 100 years of combined experience in Fine Machining of High Tech Materials. By acquiring the Gaiser assets from CoorsTek, SPT intends to provide an alternate supply source to customers impacted by the closure of CoorsTek’s Gaiser facility. We are happy to be able to acquire and integrate the Gaiser assets into our organization,” says Peter Glutz, President and CEO of SPT.
As previously announced, CoorsTek will close the Gaiser facility and cease the production of all associated products manufactured therein, effective December 20, 2019. CoorsTek team members will remain employed through the closure of the Gaiser facility. CoorsTek will continue to offer on-site career transitional support to its employees with marketplace chaplains, outsourcing workshops and on-site job fairs.
CoorsTek and SPT intend to close the transaction by late January 2020.
For more information, please visit www.corrstek.com.
For more information, please visit www.spt.net.
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