Carbone Lorraine, a France-headquartered provider of graphite materials and solutions, has acquired Calcarb, the second-largest manufacturer of rigid graphite felt for the solar industry. According to Carbone Lorraine, Calcarb's reputation for high-quality products will enable Carbone Lorraine to make a strong and profitable growth in the graphite insulation market and strengthen its position in the solar energy market.
Sales growth is expected to occur at a rate of 15% per year based on demand in the solar energy market, and the new division is expected to generate sales of $50 million from its products in 2009. Rigid felts are used as insulation for the extremely high-temperature furnaces found in the semiconductor and solar energy markets.
Carbone Lorraine will acquire 60% of the company's shares by Dec. 31, 2008, and has an option to increase its stake to 100% that can be exercised at any time in 2009. The acquisition is financed by debt.
SOURCE: Carbone Lorraine