Merck acquires AZ Electronic Materials
By Chi-hao James Lo, The China Post
May 9, 2014, 12:01 am TWN
TAIPEI, Taiwan -- German chemical and pharmaceutical company Merck KGaA (Merck) recently announced the finalization of its AZ Electronic Materials (AZ) acquisition, seeking to become a global provider for advanced technology and functionality-based chemical solutions.
Merck made an offer in December 2013 to acquire AZ for an amount close to 1.9 billion euros, approximately NT$ 78 billion. The acquisition process reached the acceptance threshold, approved by 75 percent of AZ shareholders. The acquisition also received approval from U.S., Japan, Taiwan, Germany and China government agencies responsible for enforcing anti-monopoly regulations.
Merck stressed that AZ is a company whose chemical technology has become a necessity in the upgrading process for companies in the global electronics industry. The products of AZ have been widely applied in integrated circuits and devices, flat-screens as well as LEDs. The wide recognition of AZ has made the company an indispensable research partner in the innovation and development of new products, said Merck.
Merck is currently aiming to complete consolidation of both companies by the end of 2014. AZ currently has 1,150 employees worldwide. To ensure the quality of the consolidation process, former AZ CEO Geoff Wild will remain at AZ to aid in the integration of the company's functionality-based chemistry business units.
Believing that the merger will create a powerhouse, Merck Business Group CEO Bernd Reckmann stated that his company wishes to set a new example in the fast changing world of the electronics industry, as a reliable business partner providing its customers with high-tech materials and customized solutions that can be widely adopted in various products.