PE-backed Materials Maker To Sell Its Wafer Business

Covalent Materials Co., a leading-edge materials maker, announced that Covalent and Sino-American Silicon Products Inc., a major Taiwanese silicon wafer maker, have agreed to transfer Covalent's silicon wafer business to Sino-American Silicon Products. Covalent will concentrate its resoures on its ceramic business. Covalent, formerly Toshiba Ceramics, went private via MBO with The Carlyle Group, a global mega buyout shop, and Unison Capital, a major Japnese buyout shop, in 2006.