THERMOCOMPACT has acquired the assets of Diamond Materials Tech, Inc. from Meyer Burger AG

THERMOCOMPACT, the French leader in coating and high technology wires, has acquired the assets of Diamond Materials Tech, Inc. from Meyer Burger AG. Financial details have not been disclosed.

THERMOCOMPACT, founded in 1913, has dedicated expertise in precious metal coating and high technology wire for EDM applications and fixed abrasive, highly technical engineered wires for photovoltaic, electronic and LED industries. THERMOCOMPACT has demonstrated continuous improvements in order to meet its industrial customers’ expectations in the automotive, aeronautics, space, connectors, medical and precision cutting sectors. These innovations have led to major products and processes improvements leading to optimum technical results in terms of performance and productivity.

Gilles Mollard, CEO of THERMOCOMPACT, said: "With this acquisition, we will develop our offer of diamond wires and diversify with a package saw and wire. Our ambition is to develop new processes and new applications for diamond wires technology."

Diamond Materials develops and produces technologies, products and consumables for diamond wire applications. It offers cutting hard crystalline materials for photovoltaic, optical, and semiconductor markets. The company was founded in 1963 and is based in Colorado Springs, Colorado. As of September 2009, Diamond Materials Tech, Inc. operates as a subsidiary of Meyer Burger Technology AG.

Meyer Burger is a leading global technology company specializing on innovative systems and processes based on semiconductor technologies. The company’s focus is on photovoltaics (solar industry) while its competencies and technologies also cover important areas of the semiconductor and the optoelectronic industries as well as other selected high-end markets based on semiconductor materials. Over the past ten years, Meyer Burger has risen to the forefront of the photovoltaic market and established itself as an international premium brand by offering superior precision products and innovative technologies.

Oaklins' team in France advised the buyer in this transaction.