Manz Automation AG submits offer for Taiwan-based Intech Machines Co. Ltd.
Acquisition offer with an anticipated volume of around EUR 26 million / Significant expansion of production capacity and product range for LCD and solar / Further reinforcement of position on Asian market
Manz Automation had already made an advance agreement with a major investor to acquire a 27% interest in Intech Machines Co., Ltd. The transaction is anticipated to have a total volume of around EUR 26 million.
Intech Machines Co. Ltd's core business is the construction of wet-chemical process systems for the LCD and PCB industries. The company recorded revenues of approx. EUR 50 million in fiscal year 2007 with around 900 employees in Taiwan and China.
The acquisition of Intech Machines Co., Ltd. gives Manz Automation access to the technology and capacity to produce wet-chemical cleaning systems, which cover a major section of the production process in both the LCD and thin-film solar industries. Dieter Manz, Manz Automation's CEO, explained the reasons behind the acquisition: "Intech is a central component in our acquisition strategy. This acquisition allows us to both expand our value chain for thin-film solar and LCD production, and also to penetrate local production capacity that will play a key role in future in the ultra-high growth Asian market." Manz Automation is forecasting its growth to accelerate yet again as a result of the acquisition. The company will publish its forecast for fiscal year 2008 after presenting its 2007 figures and successfully completing its acquisition of Intech Machines Co., Ltd.
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.
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