|Cabot Microelectronics Corporation Reports Geino, Japan Facilities Not Directly Affected by Earthquake|
Aurora, IL, Mar 13, 2011 (GlobeNewswire via COMTEX) --
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, today reported that all of its employees in Japan are safe in the wake of Friday's earthquake and tsunami.
In addition, the company's Geino, Japan manufacturing and research and development facilities, located approximately 500 miles from the earthquake's epicenter, were not directly affected by the disaster, and presently continue to operate on schedule and at normal production levels. The company's other administrative operations in Japan also were generally not impacted by the earthquake. The company continues to monitor shipping and transportation operations to confirm the status of planned shipment and delivery schedules, and to work with its suppliers to confirm future materials supply and availability. At present, the company believes that its inventories and shipments are not at risk, and its main focus continues to be on providing any assistance needed to its employees and customers, as well as with general relief efforts.
ABOUT CABOT MICROELECTRONICS CORPORATION
Cabot Microelectronics Corporation, headquartered in Aurora, Illinois, is the world's leading supplier of CMP polishing slurries and 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 975 employees on a global basis. For more information about Cabot Microelectronics Corporation, visit www.cabotcmp.com or contact Amy Ford, Director of Investor Relations at 630-499-2600.
SAFE HARBOR STATEMENT
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SOURCE: Cabot Microelectronics Corporation
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 December 31, 2010 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.