Boyd Corporation Acquires Industry-Leading Solimide® Business

  Boyd Corporation Acquires Industry-Leading Solimide® Business

     Deal Further Galvanizes Boyd’s Aerospace & Defense Market Positions

Business Wire

MODESTO, Calif. -- July 21, 2014

Boyd Corporation, a leading global provider of engineered, specialty
material-based energy management and sealing solutions, today announced it has
entered into an agreement to purchase the Solimide® Foam business of Evonik
Industries.

Boyd’s acquisition of Solimide®, a family of low-density polyimide foams used
across the globe as high performance thermal and acoustic insulation,
signifies the Modesto-based company’s focus on innovative, engineered
materials within its core and adjacent markets.

“Acquiring Evonik’s Solimide® Foam business represents a unique opportunity
for our company to obtain a high-performing technology that positions us to
realize significant growth within key commercial aerospace, defense and
building infrastructure segments,” said Mitch Aiello, Boyd Corporation
President and CEO. “By applying Boyd’s specialty material and energy
management application expertise, leveraging our sales and distribution
channels and our world-class supply chain, Solimide® Foams will help us better
serve our rapidly expanding customer base.”

Originally designed by NASA, Solimide® Foam is the dominant global market
leader within the defense industry as well as wide body and regional aircraft
markets for mission-critical insulation solutions. Applications span multiple
purposes including ducting and burn-through requirements as well as
weight-critical, preeminent acoustic damping capabilities. Solimide® serves
the market for high-end, light-weight and non-fibrous insulation solutions and
is one of the lightest flexible foam materials available with characteristics
that include:

  *High and low temperature capability (wide range).
  *Fire-resistant, extremely low smoke and gas emission.
  *Good thermal and acoustic insulation.
  *Significantly lighter than alternative products.

The acquired business will continue to operate under the Solimide® brand – a
market standard for over 20 years. The company’s manufacturing site in
Magnolia, Arkansas as well as its Allen, Texas administrative facility will be
added to Boyd’s global footprint.

The sale is subject to customary closing conditions and approvals.

About Boyd Corporation

Boyd Corporation is a global provider of precision-engineered, specialty
material-based energy management and sealing solutions with specific expertise
in engineering and design, manufacturing and supply chain management. The
company operates in markets around the world and serves customers in
electronics, mobile computing, medical technology, transportation, aerospace
and other B2B and consumer-critical industries. For nearly 100 years, the Boyd
brand has represented stability, adaptability and vision along with employing
the most experienced team in the industry. Boyd Corporation: One Company, Many
Solutions. Visit us at www.boydcorp.com.

Contact:

Boyd Corporation
Amie Jeffries, 209-491-4715
ajeffries@boydcorp.com
 
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