CoorsTek rejects Coors family buyout offer

<br>(Golden-AP) -- Golden-based CoorsTek has rejected a 246-point-five million-dollar bid from the Coors family. <br><br>A committee established by the CoorsTek board of directors says the bid significantly

Monday, November 25th 2002, 12:00 am

By: News On 6

(Golden-AP) -- Golden-based CoorsTek has rejected a 246-point-five million-dollar bid from the Coors family.

A committee established by the CoorsTek board of directors says the bid significantly under estimates the company's long-term value.

CoorsTek is a former subsidiary of Golden-based brewer Adolph Coors Company that was spun off in 1992. It designs and makes components for the semiconductor capital equipment and for the automotive, electronics, industrial and telecommunications markets.

CoorsTek has steadily been increasing revenues and improving quarterly performance since recording a 19-point-nine million dollar loss in the fourth quarter 2001.