Manz Automation AG plans to fully acquire Intech Machines Co. Ltd.

09/07/2009 07:31:00 CEST

Manz aims to acquire the remaining 24.4% of Intech Machines Co. Ltd’s shares with subsequent delisting in Taiwan

  • Anticipated investment volume of around € 6 million for interest outstanding
  • Reinforcement of position on high-growth Asian market
  • Inclusion in the TecDAX improves international visibility

Manz Automation AG, one of the world’s leading technology providers for the photovoltaic and LCD industries is planning to acquire a 100% interest in its subsidiary Intech Machines Co. Ltd. At present, the Reutlingen-based company holds 75.6% of Intech’s shares. The investment volume for the purchase of the remaining interest is expected to total around € 6 million. The company intends to conclude the acquisition, which will be based on Taiwanese legislation, by the start of 2010.

The Managing Board believes that the transaction will offer the Manz Group a large number of opportunities. For example, a later delisting of the subsidiary will allow administrative costs for the existing stock market listing to be cut. Moreover, Manz will secure additional income by increasing its interest. Acquiring the whole of Intech gives the company the latitude to take decisions that it needs to be able to implement corporate strategies, sales structures, production processes and product innovations in a target-oriented manner. It will also bolster the company’s consistent use of the cost advantages that Asia offers. Manz believes that the acquisition significantly improves its competitive position.

Dieter Manz, Manz Automation AG’s CEO, explained the reasons for this strategic step: “Acquiring Intech Machines last year gave us access to the technology used in the production of wet-chemical equipment. Therefore we are able to cover major production stages for the LCD and solar industries. Taking over the remaining interest will allow us to secure this expertise in its entirety. At the same time, it will enable us to improve our opportunities to further reinforce our position on the high-growth Asian market.”

Based on the decision of the Arbeitskreis Aktienindizes on September 3, 2009, the company’s international visibility is further strengthened. Accordingly, the shares of Manz Automation AG will be included in the TecDAX as of September 21, 2009. The index contains the 30 largest technology companies in terms of the free float market capitalization and the average trading volume.

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