Praxair Completes Acquisition of Materials Research Corp.

Praxair Surface Technologies, a subsidiary of Praxair Inc. (Indianapolis), has completed its acquisition of Materials Research Corp. (MRC), a Sony Corp. of America (New York) subsidiary specializing in thin film deposition materials. The company announced its intent to purchase MRC in early November (see Praxair Surface Technologies To Acquire Materials Research Corp). Terms of the transaction were not disclosed.

MRC develops, produces, and supports leading-edge thin film deposition materials. In addition to the semiconductor industry, the company also serves data storage, ink-jet printers, and other electronics market segments that are related to markets served by Praxair Surface Technologies. MRC, which employs over 200 people, operates manufacturing sites in France, Korea, and the United States.

According to Thomas von Krannichfeldt, president of Praxair Surface Technologies, MRC's products complement Praxair's emerging business in complex ceramic sputtering targets for similar applications.

The MRC purchase is Praxair Surface Technologies' largest acquisition to date. Over the past five years, the company has acquired 17 companies providing surface technology related services and products to customers around the world.

Praxair Surface Technologies is a service-based business and worldwide supplier of coating services, thermal spray powders, equipment, and other consumables to customers in aircraft, computer, electronics, optical, printing, plastics, primary metals, and textiles industries. During the last five years, Praxair Surface Technologies has acquired 15 companies that provide surface treatment technology services and products. The purchase of MRC will be the subsidiary's largest acquisition.

Praxair Inc., an industrial gases company, produces, sells, and distributes atmospheric and process gases, and high-performance surface coatings.

For more information, call Jamie Miller of Praxair at 317-240-2172, or e-mail jamie_miller@praxair.com.

Edited by Jim Pomager