CoorsTek has signed a $245 million agreement to acquire a French conglomerate’s Advanced Ceramics business, expanding the Golden-based company’s manufacturing footprint.
A spokesman for Paris-based Saint- Gobain SA confirmed the deal, which could add 14 manufacturing plants to the 100-year-old Colorado firm’s holdings. CoorsTek and its subsidiaries run 25 plants in Canada, Great Britain, South Korea and the United States.
“With the addition of Saint-Gobain’s Advanced Ceramics business, Coors Tek expands its material and processing capabilities and product offerings,” chief executive John K. Coors said in a recorded statement. “The result is a larger portfolio of complementary products and a stronger global presence.”
The acquisition will take effect July 31 if regulators approve the deal, according to a CoorsTek news release.
Founded in 1910, CoorsTek spun off from parent Adolph Coors Co. in 1992 and went private in 2003, according to its website. Its ceramics have uses in the defense, automobile and electronics industries.
Saint-Gobain manufactures glass, plastics and other materials. The Advanced Ceramics business made $195 million last year, according to a company news release.
“We occasionally make an assessment that some of our businesses will have better growth opportunities with other companies,” Saint-Gobain spokesman Bill Seiberlich said.
Saint-Gobain’s Advanced Ceramics business employs roughly 1,200 people worldwide, including about 500 workers at six North American plants.
CoorsTek owns five plants in Golden and two in Grand Junction.
Colorado Springs plant controller Mike Phillips said the 29-person staff of his Saint-Gobain factory learned of the planned acquisition Monday morning.
“There’s obviously some concern on the part of some of the employees, including myself, but most people are taking a wait-and-see attitude,” he said.
Drew FitzGerald: 303-954-1381 or dfitzgerald@denverpost.com
