Manz Automation AG acquires majority interest in Taiwan-based Intech Machines Co., Ltd.
- Successful acquisition: Manz acquires an interest of 70% in Intech
- Global market position as equipment provider for the solar industry significantly reinforced
- Manz becomes largest manufacturer for wet chemical process equipment in Taiwan
- Forecast for 2008 lifted
Manz Automation AG, one of the world's leading producers of automation, quality assurance and laser process technology systems for the photovoltaic and LCD industry, has successfully concluded its acquisition offer for Intech Machines Co., Ltd., a company listed in Taiwan. When the offer expired, the Reutlingen-based high-tech engineering company acquired an interest of 70% in Intech. The acquisition thus has a total volume of EUR 36 million. The successful transaction means that Manz Automation has substantially reinforced its global market leadership in the solar and LCD industry, thus clearing the path for future growth.
Intech Machines Co., Ltd. is clearly the leading Taiwan-based manufacturer to produce wet chemical cleansing equipment for the LCD and PCB industry. By integrating Intech, Manz Automation AG has expanded its existing product portfolio for the LCD and solar industries by adding wet chemical process equipment. On these grounds Manz can further increase its value added in the production of thin-film solar modules and develop additional sales and earnings potential.
The acquired wet chemical plant technology is also expected to play a key role in future in the production of crystalline solar cells. This will allow Manz to also increase its value added for the manufacture of production lines for crystalline solar cells, thus significantly expanding the company's position on the market.
Dieter Manz, CEO, is very pleased with this further milestone in the company's history: "This technology is a superb fit with our product range - an ideal complement. What is more, it gives us access to additional production capacity in Asia which will further boost our growth." Intech Machines Co., Ltd. has around 480 employees in Taiwan and a further 360 in China. According to preliminary figures, the company recorded revenues of approx. EUR 50 million in 2007, with pre-tax earnings totaling around EUR 4 million.
As a result of the successful acquisition, Manz Automation's Managing Board has lifted its forecast for 2008. The company is now forecasting revenues of EUR 210 - 215 million (previously EUR 175 - 180 million) as a result of the initial consolidation of Intech on April 1, 2008. This figure is up three-fold year-on-year. The Managing Board believes that EBIT will also enjoy a sustainable increase as a result of the accomplished acquisition.
Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3) is one of the world's leading technology providers in terms of market shares for systems for automation, quality assurance and laser process technology for the photovoltaic industry and for automation and wet chemicals for the LCD industry. The Manz Group's core competences are in robotics, image processing, laser technology, wet chemicals as well as control and drive technology. The Manz Group's key strategic divisions are photovoltaic (systems.solar), LCD (systems.lcd) and OEM systems (systems.aico) for automation in various industrial sectors and the life science industry. The Manz Group has sales and service branches in Germany, Taiwan, the USA, China, South Korea, India and Spain. In addition, the Manz Group has its own production facilities in Germany, Slovakia, Hungary, Taiwan and China. The Manz Group recorded revenues of € 71.2 million in fiscal year 2007 with an EBIT margin of 14.1%. More than 57% of revenues were generated abroad, in particular in Asia. The Manz Group recorded revenues of € 101.6 million and an EBIT margin of 11.8% in the first half of fiscal year 2008.