COSTA MESA, Calif. (AP) - Ceradyne Inc., which makes ceramic products and parts for defense applications, said Wednesday it plans to acquire EaglePicher Boron LLC for about $69 million in cash.
Ceradyne said the acquisition will strengthen its entry into the nuclear waste containment and nuclear power plant-related markets.
EP Boron produces an isotope used for both nuclear waste containment and nuclear power plant neutron radiation control. In addition, the company produces other chemical isotopes used to operate nuclear power plants.
EP Boron also makes an isotope used in semiconductor processes, which currently account for about 40 percent of the Quapaw, Okla.-based company's sales.
In its fiscal year ending Nov. 30, 2006, EP Boron reported sales of about $23 million. Ceradyne reported fiscal 2006 profit of $128.4 million and sales of $662.9 million.
Ceradyne expects the deal to close within 60 days, pending regulatory approvals.