Divest businesses key to focus on carbon, advanced ceramics and composites
The company's products include thermal and technical ceramics, which make up more than two-thirds of industry revenue. In recent years, Morgan Advanced Materials PLC (Morgan) has sold off several business units, such as composites and defense systems, to focus its resources on key programs including ceramics, carbon-based parts for industrial motors and molten metal systems. For example, Morgan announced in 2020 that it had completed the sale of its facility in Allentown, Pennsylvania, for its Diamonex business, which manufactures, among other products, chemical mechanical planarization pad conditioners sold into the semi-conductor market.
Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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