April 1, 2004 – Isonics Corp., Golden, CO, has agreed to acquire the silicon wafer manufacturing business and assets from EnCompass Materials Group Ltd. (EMG), a Vancouver, WA-based provider of silicon test wafers and recycling services. The $3.5 million stock deal is expected to close in 2Q04.
The deal will boost provide Isonics with another manufacturing facility, allowing it to launch the production phase of its SOI wafer business and “go after larger, more valuable orders,” said chairman and CEO James Alexander. EMG posted a net loss of $1.4 million in FY03 on revenues of $3.8 million.
Hans Walitzki, Isonics VP of advanced wafer technology, predicted the combined businesses would be profitable within 12 months of the closed deal.