01/26/2021 08:10:00 CET, Reutlingen Sale of shares to Lam Research successfully completed | Proceeds from the sale in the mid double-digit million-euro range | Proceeds to strengthen strategic core business, above all the Energy Storage segment
The sale of Manz AG's 80.5% stake in Talus Manufacturing Ltd. to Lam Research Corporation was successfully completed after all regulatory approvals in Taiwan were granted. Previously, Lam Research's stake was 19.5%. The sale price is in the mid double-digit million-euro range and serves Manz AG to further focus on its strategic core business. In particular, the funds are to be used for the expansion of the fast-growing Energy Storage segment.
Lam Research Corporation, headquartered in the United States, is a global provider of wafer fabrication equipment and services to the semiconductor industry. In 2016, Talus Manufacturing had commenced operations as Lam's "Global Refurbishment Center" and has since been managed by Manz AG in the Contract Manufacturing segment. From the beginning, the company's focus was on the modernization and refurbishment of existing semiconductor manufacturing equipment. Since then, Talus Manufacturing had developed very positively. This is also reflected in the average annual growth rate of around 125% since its foundation.
Martin Drasch, CEO of Manz AG, comments: "The cooperation with Lam Research is a true success story. Due to the very positive company development, the value of our investment has multiplied since its inception in 2016. The sale of our shares now results in a one-time effect on earnings, which we will invest in our strategic core business. We will focus in particular on the high-growth Energy Storage segment. Thanks to the enormous market momentum worldwide, we recorded orders of more than 100 million euros here in 2020. And for 2021, we expect that numerous growth opportunities will again present themselves to us as a high-tech machinery manufacturer. We want to make even better use of this potential through the investments that are now possible."