AURORA, Illinois, Aug. 26, 2011 (GLOBE NEWSWIRE) -- Cabot Microelectronics Corporation (Nasdaq:CCMP), the world's leading supplier of chemical mechanical planarization (CMP) polishing slurries and a growing CMP pad supplier to the semiconductor industry, held a grand opening ceremony on August 25, 2011 for its new research, development and manufacturing facility located in the Gyeonggi Province of South Korea. The grand opening event was attended by a number of the company’s customers, suppliers, co-suppliers and local dignitaries.
Cabot Microelectronics has invested approximately US$13 million to construct the 56,000 square foot (5,213 square meter) facility, which is located approximately 55 kilometers south of Seoul in Gyeonggi Province. The new research, development and manufacturing facility will enhance the company’s capabilities in the region and allow better support for key customers located in South Korea. Initially, the facility will support certain advanced dielectrics slurry products, and additional CMP products may be added in the future.
David Li, Cabot Microelectronics' Vice President of Asia, stated, "It was my sincere honor to host our customers, suppliers, co-suppliers and local dignitaries, at the recent grand opening event. This new facility supports our strategic initiative to work more closely with our customers in South Korea and better serve this important market."
ABOUT CABOT MICROELECTRONICS CORPORATION
Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is the world's leading supplier of CMP polishing slurries and a growing CMP pad supplier to the semiconductor industry. The company's products play a critical role in the production of advanced semiconductor devices, enabling the manufacture of smaller, faster and more complex devices by its customers. The company's mission is to create value by developing reliable and innovative solutions, through close customer collaboration, that solve today's challenges and help enable tomorrow's technology. Since becoming an independent public company in 2000, the company has grown to approximately 1,000 employees on a global basis. For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com or contact Trisha Tuntland, Manager of Investor Relations at (630) 499-2600.
SAFE HARBOR STATEMENT
This news release may include statements that constitute "forward looking statements" within the meaning of federal securities regulations. These forward-looking statements include statements related to: future sales and operating results; company and industry growth, contraction or trends; growth or contraction of the markets in which the company participates; international events or various economic factors; product performance; the generation, protection and acquisition of intellectual property, and litigation related to such intellectual property; new product introductions; development of new products, technologies and markets; natural disasters; the acquisition of or investment in other entities; uses and investment of the company’s cash balance; and the construction of facilities by Cabot Microelectronics Corporation. These forward-looking statements involve a number of risks, uncertainties, and other factors, including those described from time to time in Cabot Microelectronics’ filings with the Securities and Exchange Commission (SEC), that could cause actual results to differ materially from those described by these forward-looking statements. In particular, see "Risk Factors" in the company's quarterly report on Form 10-Q for the quarter ended June 30, 2011 and in the company's annual report on Form 10-K for the fiscal year ended September 30, 2010, both filed with the SEC. Cabot Microelectronics assumes no obligation to update this forward-looking information.