MATERION Corp
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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Item 2. Properties
We operate manufacturing plants, service and distribution centers, and other facilities throughout the world. During 2023, we made effective use of our productive capacities at our principal facilities. We believe that the quality and production capacity of our facilities is sufficient to maintain our competitive position for the foreseeable future. Information as of December 31, 2023, with respect to our facilities that are owned or leased, and the respective segments in which they are included, is set forth below:
| Location | Owned or Leased | Approximate Number ofSquare Feet |
|---|---|---|
| Corporate and Administrative Offices | ||
| Mayfield Heights, Ohio (1)(2) | Leased | 79,100 |
| Manufacturing Facilities | ||
| Albuquerque, New Mexico (2) | Owned/Leased | 13,000/63,200 |
| Alzenau, Germany (2) | Leased | 136,400 |
| Balzers, Lichtenstein(3) | Leased | 83,400 |
| Brewster, New York (2) | Leased | 75,000 |
| Buffalo, New York (2) | Owned | 110,000 |
| Delta, Utah (1) | Owned | 100,800 |
| Elmore, Ohio (1) | Owned/Leased | 681,000/191,000 |
| Farnborough, England (1) | Leased | 10,000 |
| Jena, Germany (3) | Owned | 102,700 |
| Limerick, Ireland (2) | Leased | 23,000 |
| Lincoln, Rhode Island (1) | Owned/Leased | 166,500/27,100 |
| Lorain, Ohio (1) | Owned | 55,000 |
| Milwaukee, Wisconsin (2) | Owned/Leased | 106,000/150,000 |
| Newton, MA (1,2) | Owned/Leased | 125,000/69,900 |
| Penang, Malaysia (3) | Leased | 68,000 |
| Reading, Pennsylvania (1) | Owned/Leased | 128,800/287,000 |
| Santa Clara, California (2) | Leased | 5,800 |
| Shanghai, China (3) | Leased | 101,400 |
| Singapore (1)(2) | Leased | 24,500 |
| Subic Bay, Philippines (2) | Leased | 5,000 |
| Taoyuan City, Taiwan (2) | Leased | 32,500 |
| Tucson, Arizona (1) | Owned | 53,000 |
| Tyngsboro, Massachusetts (3) | Leased | 38,000 |
| Westford, Massachusetts (3) | Leased | 78,000 |
| Wheatfield, New York (2) | Owned | 35,000 |
| Service, Sales, and Distribution Centers | ||
| Suzhou, China (2) | Leased | 400 |
| Elmhurst, Illinois (1) | Leased | 28,000 |
| Eschborn, Germany (3) | Leased | 500 |
| Seoul, Korea (2) | Leased | 2,200 |
| Shanghai, China (1) | Leased | 5,000 |
| Stuttgart, Germany (1) | Leased | 49,000 |
| Tokyo, Japan (1) | Leased | 5,400 |
(1)Performance Materials
(2)Electronic Materials
(3)Precision Optics
Mine Property
The Company holds certain mineral rights on 7,443.5 acres at the Spor Mountain Mining Properties in Juab County, Utah, from which the beryllium-bearing ore, bertrandite, is mined by the open pit method. The Spor Mountain Mining Properties are a part of the Spor Mountain Mine that is owned by Materion. The Spor Mountain Mining Properties are in Juab County, Utah, west of the Thomas Mountain Range, approximately 47 miles northwest of the Spor Mountain Mill, which is 11.5 miles northeast of Delta, Utah, in Millard County. The land surface of the mining areas is owned by Materion. The mineral rights, exclusive of oil and gas, are held by Materion and the State of Utah through the School and Institutional Trust Lands Administration (TLA). TLA beryllium rights are leased by Materion in nine leasing arrangements with varying acreage and expiration dates ranging from 2025 through 2046. The leases have historically been renewed prior to the expiration dates. Several former owners are paid royalties as part of legacy agreements.
Ore resource and reserve data for the Spor Mountain Mine can be found in Part II, Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations". In addition, a Technical Report Summary (TRS) for the Spor Mountain Mine was prepared in 2021, in accordance with Items 1300-1305 of Regulations S-K by qualified persons who have no affiliation with the Company. The TRS, which was filed as Exhibit 96 to our Annual Report on Form 10-K for the year ended December 31, 2021, provides additional details regarding the Spor Mountain Mine, including the technical information and assumptions to support the estimates of mineral resources and mineral reserves.
In accordance with Item 1302 of Regulation S-K, a registrant is required to file a TRS as an exhibit to its Annual Report on Form 10-K when disclosing for the first time ore reserves or resources or when ore reserves or resources have changed materially since the last TRS was filed for the property. Because there have been no material changes to the Company’s reserves or resources in 2023, it is not filing a TRS as an exhibit to this Form 10-K.
Mine Exploration Status
The Spor Mountain Mine has been in production since 1968. Over the years, seven different mining areas have been identified. Development drilling was performed across the site for over 30 years and completed in 2000. Additional details can be found in the TRS.
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