Manz Automation AG submits offer for Taiwan-based Intech Machines Co. Ltd.

02/04/2008 07:56:00 CET

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 AG, one of the world's leading producers of automation, quality assurance and laser process technology systems for the photovoltaic and LCD industry, has published an acquisition offer for Intech Machines Co., Ltd., a company listed in Taiwan. Manz Automation plans to acquire an equity interest of at least 51% in this Asian mechanical and plant engineering company by the middle/end of March. 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.

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