11/11/2020 09:52:00 CET Exercise of the call option: Lam Research Corporation will acquire Manz's 80.5% share in Talus Manufacturing Ltd. | Date of legal validity depends on official approvals | Sales proceeds are primarily intended to strengthen the strategic core segments, especially the Energy Storage segment
U.S. based Lam Research Corporation, a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry, today informed Manz AG that it will acquire the interest in Talus Manufacturing Ltd. held by Manz Taiwan Ltd. Lam Research Corporation's interest in Talus Manufacturing Ltd. had previously amounted to 19.5%. By exercising the contractually agreed call option, Lam Research will acquire the remaining 80.5%. The exact date from which the acquisition will be legally effective is still subject to regulatory approvals in Taiwan. The agreed selling price is in the mid double-digit million-euro range. Among other things, the proceeds are to be invested in the expansion of the dynamically growing Energy Storage segment, thus strengthening the core business.
Talus Manufacturing started operations in Taiwan in 2016 and has since been managed within the Contract Manufacturing segment. As a "Global Refurbishment Center", the company focuses on the modernization and refurbishment of existing equipment for the production of semiconductors. An average annual growth rate of around 125% since Talus Manufacturing was founded reflects the successful cooperation between Manz and Lam Research.
Martin Drasch, Manz AG's CEO, comments: "With Talus Manufacturing, we can look back on a successful cooperation with Lam Research in Taiwan, which was reflected not only in the company's positive earnings growth. Since its inception in 2016, the value of our share in Talus Manufacturing has increased significantly. The resulting one-off effect on earnings therefore enables us to invest even more heavily in our strategic core business and to exploit existing growth opportunities even more efficiently".
Irrespective of Talus Manufacturing Ltd., Manz AG was able to broaden its customer base in the Contract Manufacturing segment in 2020 and to report new orders at both its Slovakian and Chinese site. From its previous cooperation with Lam Research in Taiwan, Manz was not only able to acquire valuable expertise for future projects in the Contract Manufacturing segment but will also remain in close relationship with Lam Research.