March 11, 2011 – Marketwire — Ceradyne Inc. (NASDAQ: CRDN) and Yamanaka EP Corporation (Kyoto, Japan) jointly announced that Ceradyne, Inc. has acquired a minority interest in Yamanaka EP Corporation for an undisclosed amount.
Yamanaka EP Corporation, a privately owned company based in Kyoto, Japan, processes advanced technical materials in its modern processing facility in Shiga, Japan, and markets these materials in Japan, Asia, the United States, and Europe. It serves primarily nuclear power plant, solar, optical fiber, and semiconductor applications.
Ceradyne Inc.’s wholly owned subsidiary, Ceradyne Boron Products, supplies nuclear power plant and semiconductor materials to Yamanaka. Takao Danno, president of Yamanaka, refered to Ceradyne Boron Products as a long-term supplier that will enable continued growth.
The companies plan to change the name of Yamanaka EP Corporation to Yamanaka Ceradyne Inc. There will be a Ceradyne Inc. representative on the Yamanaka Ceradyne Inc. Board of Directors.
Michael Kraft, VP of Ceradyne Nuclear and Semiconductor Business Units, stated: "Our strategy in Asia is to have a regional ‘on the ground’ presence. We have achieved this in China and now our formal partnership with Yamanaka EP Corporation ensures a close professional presence in Japan and the rest of Asia. Yamanaka EP Corporation has been working with Ceradyne’s Boron Products subsidiary and its predecessor in Quapaw, Oklahoma, for over 15 years, and we are looking forward to expanding this relationship into other Ceradyne products."
Ceradyne develops, manufactures, and markets advanced technical ceramic products and components for defense, industrial, energy, automotive/diesel, and commercial applications. Additional information about the Company can be found at http://www.ceradyne.com