Keywords
Citation
(2003), "CoorsTek agrees to $220 million buyout", Microelectronics International, Vol. 20 No. 2. https://doi.org/10.1108/mi.2003.21820bab.004
Publisher
:Emerald Group Publishing Limited
Copyright © 2003, MCB UP Limited
CoorsTek agrees to $220 million buyout
CoorsTek agrees to $220 million buyout
Reuters
Keywords: Acquisitions and mergers, CoorsTek
CoorsTek Inc. has been acquired for more than $220 million by a private investment group led by top CoorsTek management and other members of the Coors brewing family.
CoorsTek, which has been hurt by a protracted downturn in the semiconductor industry, said it expects to report fourth-quarter revenue of $79 million to $82 million, representing an 18-21 per cent decline from its third-quarter numbers.
The company said it still expects to invest about 3 per cent of its sales in research and development in the fourth quarter and that its general expenses would range between 16 and 17 per cent of sales.