Ceradyne Inc., a high-technology ceramics maker in Costa Mesa, has completed its acquisition of Semicon Associates Inc. for a cash equivalent of $7 million to $8 million in stock, cash and five years' worth of royalties.
Ceradyne will manage Semicon, a Lexington, Ky., producer of ceramic-based cathodes, as part of its newly formed vacuum electronics group, which manufactures cathode ray guns for aerospace, defense and industrial uses.
A cathode-ray gun is the energy source for such products as television picture tubes and lasers.
Ceradyne bought Semicon, a subsidiary of Varian Associates Inc., to expand its market in microwave products, to broaden its manufacturing base and to take advantage of Semicon's research base, said John Carberry, Ceradyne's chief operating officer.
Late last winter, Ford Motor Co. bought 11% of Ceradyne for $10 million to bolster its attempt to produce lighter, more fuel-efficient ceramic automobile engines within five years.