10/27/04
International Electron Devices, Ltd. Buys Cortland Buckbee Mears Plant
Cortland, NY -- IEDL, a world leader in the manufacture of high-precision
television components, has completed its purchase of Buckbee Mears in Cortland,
NY.
Based in New Delhi, India, IEDL’s clients comprise the biggest names in the
picture tube, automobile and general engineering industries, including Samtel,
Samsung, JCT Electronics, New Holland and Honda. The company’s hallmark is
technological innovation, best-of-breed engineering solutions, and investment in
new product development.
This will be the company’s first US investment.
"This is an exciting opportunity for IEDL to participate in the aperture mask
industry utilizing some of the finest manufacturing technology available in the
world," said Sudhir Kaura, managing director of IEDL, adding that the company
sees "a significant opportunity to participate in the continued growth of the
CRT industry in the developing regions of the world, especially India and
China." He said the IEDL management team looks forward to working with the local
community to reestablish the Cortland facility's previous business position, and
to diversify into other high-tech photocemically etched parts in automotive,
medical and filtration applications.
The company will operate under the trade name Buckbee-Mears, which continues to
carry global recognition as a leader in the photochemical machining industry.
Prior to its closure just a few months ago, BMC Cortland had grown to become one
of the world’s largest manufacturers of aperture masks, and the only independent
mask manufacturer located outside of Asia. After making the announcement to exit
the aperture mask business and close the Cortland facility, BMC Industries began
to actively market the 367,000 sq. ft. Cortland facility in Spring of 2004,
working closely with the Cortland County BDC-IDA.
"We’re delighted that all parties put this deal together so quickly," said Paul
Slowey, BDC-IDA Chairman. "This is a great testimony to the worldclass Cortland
workforce and the unique capabilities of this facility."
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