Entegris pens $158M deal for Poco Graphite

Entegris Inc. (Nasdaq:ENTG) announced ahead of today’s opening it had inked a deal to obtain privately owned Poco Graphite Inc. for $158 million in cash. Entegris is a Chaska, Minn.-based manufacturer of products for the microelectronics industry while Poco Graphite makes graphite products. The sale is anticipated to close in the third quarter of 2008, and Entegris said it should add to its earnings sometime next year.

“Poco, together with the Entegris Specialty Coatings business that we acquired in August 2007, will form the foundation of a materials-based, consumable products business that has a strong presence in semiconductors but is also well-positioned in other growth areas. With 60 percent of its revenue coming from outside the semiconductor industry, Poco provides us with existing sales and growth opportunities in the medical, aerospace and specialty industrial markets,” said Gideon Argov, president and CEO of Entegris, in a statement.

In today’s trading, shares of Entegris are down 3% at $6.43 on below-average volume.

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