50 unchanged sentences
Electronic Materials also has metal recovery operations and in-house refining that allow for the recycling of precious metals.
−Removed: This business includes a portion of HCS-Electronic Materials.
−Removed: See Note B to the Consolidated Financial Statements for additional discussion regarding our acquisition of HCS-Electronic Materials.
Electronic Materials products are sold directly from its facilities throughout the United States, Asia, and Europe, as well as through direct sales offices and independent sales representatives throughout the world.
16 unchanged sentences
Approximately 800 customers purchase our products throughout the semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center end markets.
−Removed: No single customer accounted for more than 10% of our total net sales for 2022.
+Added: In fiscal year 2023, one customer accounted for approximately ten percent of our net sales.
+Added: Prior to this, no single customer accounted for ten percent or more of our net sales.
Availability of Raw Materials
7 unchanged sentences
We expect that substantially all of our backlog of orders at December 31, 2023 will be filled over the next 18 months.
−Removed: On November 1, 2021, the Company acquired HCS-Electronic Materials for a purchase price of approximately $395.9 million in cash, on a cash-free, debt-free basis, subject to a customary purchase price adjustment mechanism.
−Removed: This business operates within the Performance Materials and Electronic Materials segments, and the results of operations are included as of the date of acquisition.
−Removed: Refer to Note B to the Consolidated Financial Statements for additional detail on the acquisition of HCS-Electronic Materials.
Regulatory Matters
2 unchanged sentences
The inhalation of airborne beryllium particulate may present a health hazard to certain individuals.
−Removed: On January 9, 2017, the U.S.
−Removed: Occupational Safety and Health Administration (OSHA) published a new standard for workplace exposure to beryllium that, among other things, lowered the permissible exposure by a factor of ten and established new requirements for respiratory protection, personal protective clothing and equipment, medical surveillance, hazard communication, and record-keeping.
−Removed: Materion was a participant in the development of the new standards, which fundamentally represent our current health and safety operating practices.
−Removed: On July 6, 2018, OSHA issued a Direct Final Rule that amended the text of the new standard to clarify OSHA’s intent with respect to certain terms and provisions of the standard, and on December 11, 2018, OSHA issued a Notice of Proposed Rulemaking concerning additional modifications to the standard “to clarify certain provisions and to simplify or improve compliance.” OSHA issued the final beryllium standard incorporating these additional modifications on July 14, 2020.
−Removed: Other government and standard-setting organizations are also reviewing beryllium-related worker safety rules and standards, and will likely make them more stringent.
+Added: In 2018, the U.S.
+Added: Occupational Safety and Health Administration (OSHA) published a final standard for workplace exposure to beryllium that, among other things, lowered the permissible exposure by a factor of ten and established new requirements for respiratory protection, personal protective clothing and equipment, medical surveillance, hazard communication, and record-
+Added: Materion was a participant in the development of the new standards, which fundamentally represents our current health and safety operating practices.
+Added: Other government and standard-setting organizations are also reviewing beryllium-related worker safety rules and standards, and may make them more stringent.
The development, proposal, or adoption of more stringent standards may affect the buying decisions of the users of beryllium-containing products.
16 unchanged sentences
The health, safety, and well-being of our employees is our highest priority and is a Materion core value.
−Removed: We have a strong Environmental, Health, and Safety (EHS) program that focuses on implementing policies and training programs, as well as performing self-audits to ensure our colleagues leave their workplace safely, every day.
+Added: We have a strong Environmental, Health, and Safety (EHS) program based on the ISO 45000 management system.
+Added: Our future focus is the integration of human operating performance concepts into our EHS process which is proven to further reduce the risk of serious injuries.
+Added: We will be significantly enhancing our training programs through the implementation of a new learning management system emphasizing increased hazard recognition skills and typical regulatory compliance requirements.
+Added: We perform self-audits to ensure sustainability of our processes and systems to create an environment where our colleagues leave their workplace safely, every day.
We continue to invest in safety improvements such as capital improvements, new safety technology, safety controls, and engineering ergonomic solutions.
−Removed: On an annual basis, our corporate long-range strategies are reviewed and updated, improvement plans are developed for each global location, progress is tracked, and daily critical safety statistics and metrics are published internally.
+Added: On an annual basis, our corporate long-range strategies are critically analyzed, reviewed and updated, improvement plans are developed for each global location, progress is tracked, and daily critical safety statistics and metrics are published internally.
Our corporate intranet site is visible to all global employees, where we share detailed descriptions of serious injuries and near misses and their corrective actions, as well as other proactive measures to promote lessons learned and ensure worker safety.
3 unchanged sentences
As part of our human capital management initiatives to attract, develop, and retain diverse global talent, we track and report internally on key talent metrics including workforce demographics, critical role pipeline data, and diversity hiring analytics.
−Removed: This data-driven approach helps ensure that we stay aligned to our goal of creating a positive and dynamic global work environment where all employees can flourish.
+Added: This data-driven approach helps ensure that we stay aligned to our goal of creating a positive and dynamic global work environment where all employees can both contribute and thrive.
A truly innovative workforce needs to be diverse and leverage the skills and perspectives of a broad range of backgrounds and experiences.
−Removed: To attract a global workforce, we strive to create and embed a culture where employees can bring their whole selves to work.
−Removed: Our employee resource groups (ERGs) are Company-sponsored groups of global employees that support and promote the specific mutual objectives of both the employees and the Company, with emphasis on the inclusion, diversity, and professional development of employees.
+Added: To attract a global workforce, we strive to create and embed a culture where employees can bring their authentic selves to work and feel a genuine sense of belonging.
+Added: Our employee resource groups (ERGs) are Company-sponsored groups of global employees that support and promote the specific mutual objectives of both the employees and the Company, with emphasis on the inclusion, diversity, and professional
+Added: development of employees.
The ERGs provide opportunities for employees to connect, develop, and grow together in a supportive environment.
15 unchanged sentences
Additionally, Company development programs have been designed to target and accelerate key leadership and functional skill sets.
−Removed: On an annual basis, we conduct organizational reviews with our Chief Executive Officer and all business unit and function senior leaders to identify and evaluate our high potential, diverse talent and succession plans for our most critical roles.
+Added: On an annual basis, we conduct organizational reviews with our Chief Executive Officer and all business unit and function senior leaders to identify and evaluate our high potential, diverse talent and create succession plans for our most critical roles.
Available Information
7 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.