Coatings World staff04.30.20
Mitsubishi Chemical America entered into a definitive agreement to acquire all of the issued and outstanding shares of Gelest Intermediate Holdings, Inc., the parent of Gelest, Inc., Mitsubishi Chemical Corporation announced.
Completion of the transaction is expected in 2020, pending customary regulatory review and approval.
Gelest is a manufacturer and supplier of silicones, organosilanes, metal-organics, and specialty monomers for advanced technology end markets including medical devices, life sciences, microelectronics, and personal care.
"Since becoming familiar with Gelest, we have recognized the tremendous capabilities in research and development and production that help create its outstanding position with key customers," said Steve Yurich, president of MCA. "Furthermore, MCC’s operating resources and customer network will enhance the ability to bring Gelest’s technologies to market and accelerate the development of new customer solutions to drive advances in digital social infrastructure, vision care, and other life-sciences applications."
"We are extremely proud of the efforts of everyone who has contributed to making Gelest the Company that it is today, with world-class technology and supply capabilities, made possible by the industry-leading team we have built and support from NMC for our strategic investment programs,” said Barry Arkles, chairman and chief technology officer of Gelest.
