Coatings and colour solutions supplier Ferro Corporation has acquired Electro-Science Laboratories Inc. (ESL), a maker of electronic packaging materials for US$75 million.
Headquartered in King of Prussia, Pa., ESL produces thick-film pastes and ceramic tape systems for a variety of industrial and consumer applications. Its key products are used to build hybrid integrated circuits, modules and sensors. The privately-owned company was founded in 1962; it has operations in the U.S. and the United Kingdom, and has 86 employees.
“This acquisition gives Ferro a more significant share of the addressable market for electronic packaging materials, and is highly synergistic within our current Ferro business,” said Peter Thomas, Chairman, president and CEO of Ferro, which is headquartered in Mayfield Heights, Ohio. “While ESL and Ferro both employ similar manufacturing processes, the product portfolios, end use applications and customers are complementary. In addition, Ferro is backward integrated into glass production, which will provide raw material synergy opportunities.”
