Costa Mesa-based Ceradyne Inc., a maker of bulletproof vests and other products, is paying up to $49 million for a Seattle maker of specialty glass used in electronics and industrial and healthcare products.
Ceradyne is buying Viox Corp. for $27 million in cash plus another $22 million if the business meets goals in the next two and a half years.
Viox has yearly sales of about $22 million and 40 employees.
The company makes specialty glasses used in solar panels, display devices, electronics and other uses.
Solar glass products make up about 70% of Viox’s sales.
Viox has “strong” profit margins and should add to Ceradyne’s profits right away, the company said.
Ceradyne makes ceramics that are used in body armor, truck parts, dental products and others.
Sales to the solar industry are a growing part of Ceradyne’s business. Its ceramic crucibles used to hold melted silicon make up about 15% of the company’s $400 million in yearly sales.
Ceradyne has been working on a long-running diversification after seeing a boom in sales of its military armor during the peak of fighting in Iraq and Afghanistan.
Body armor sales now are about 30% of Ceradyne’s sales, down from nearly 70% a few years ago.
