Pennsylvania, United States [RenewableEnergyWorld.com] Carbone Lorraine announced the acquisition of Calcarb, the second largest manufacturer of rigid graphite felt for the solar industry. This venture compliments Carbone Lorraine’s position as the leader in graphite solutions for solar, industrial, semiconductor and high temperature furnace components, the company said.
“By acquiring Calcarb, Carbone Lorraine is presented with a unique opportunity that fits in with our ‘2011 Expansion Business Plan’. We are pleased to have been able to see this acquisition through successfully,” said Claude Cocozza, chairman and CEO of Carbone Lorraine.
Carbone Lorraine said that sales growth is expected to grow at a rate of 15% per year based on demand in the solar energy market. The new division created through the deal with Calcarb is expected to generate sales of US $50 million from its products in 2009. Carbone Lorraine had acquired 60% of the company’s shares as of December 31, 2008 and has an option to increase its stake to 100% that can be exercised at any time in 2009. The acquisition is financed by debt.