Manz AG — M&A Activity 2008

Apr 1, 2008

News Details

Corporate | 1 April 2008 12:00

Manz Automation AG acquires majority interest in Taiwan-based Intech Machines Co., Ltd.

Manz Automation AG / Acquisition

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Manz Automation AG acquires majority interest in Taiwan-based Intech
Machines Co., Ltd.

• Successful acquisition: Manz acquires an interest of 70% in
  Intech
• Global market position as equipment provider for the solar industry
  significantly reinforced
• Manz becomes largest manufacturer for wet chemical process equipment in
  Taiwan
• Forecast for 2008 lifted

Reutlingen, April 1, 2008 - 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 successfully concluded
its acquisition offer for Intech Machines Co., Ltd., a company listed in
Taiwan. When the offer expired, the Reutlingen-based high-tech engineering
company acquired an interest of 70% in Intech. The acquisition
thus has a total volume of EUR 36 million. The successful transaction means
that Manz Automation has substantially reinforced its global market
leadership in the solar and LCD industry, thus clearing the path for future
growth.

Intech Machines Co., Ltd. is clearly the leading Taiwan-based manufacturer
to produce wet chemical cleansing equipment for the LCD and PCB industry.
By integrating Intech, Manz Automation AG has expanded its existing product
portfolio for the LCD and solar industries by adding wet chemical process
equipment. On these grounds Manz can further increase its value added in
the production of thin-film solar modules and develop additional sales and
earnings potential.

The acquired wet chemical plant technology is also expected to play a key
role in future in the production of crystalline solar cells. This will
allow Manz to also increase its value added for the manufacture of
production lines for crystalline solar cells, thus significantly expanding
the company's position on the market.

Dieter Manz, CEO, is very pleased with this further milestone in the
company's history: 'This technology is a superb fit with our product range
– an ideal complement. What is more, it gives us access to additional
production capacity in Asia which will further boost our growth.' Intech
Machines Co., Ltd. has around 480 employees in Taiwan and a further 360 in
China. According to preliminary figures, the company recorded revenues of
approx. EUR 50 million in 2007, with pre-tax earnings totaling around EUR 4
million.

As a result of the successful acquisition, Manz Automation's Managing Board
has lifted its forecast for 2008. The company is now forecasting revenues
of EUR 210 – 215 million (previously EUR 175 – 180 million) as a result of
the initial consolidation of Intech on April 1, 2008. This figure is up
three-fold year-on-year. The Managing Board believes that EBIT will also
enjoy a sustainable increase as a result of the accomplished acquisition.

Company profile

Manz Automation AG develops and manufactures systems and components for
automation, quality assurance and laser process technology. The company's
core competences are to be found in robotics, image processing, laser
technology and control technology. Manz Automation AG thus unites bundled
expertise from elementary technology areas to achieve optimum results for
its customers. The company has three divisions: photovoltaic
(systems.solar), LCD (systems.lcd) and components and OEM-systems
(systems.aico) for automation in various sectors of industry including the
life-science industry. Reutlingen-based Manz Automation AG was formed in
1987 and has branches in the USA, Taiwan, Korea, China, Spain and India. In
addition, the company owns production facilities in Tübingen, Slovakia and
Hungary. According to preliminary figures, the Manz Group recorded revenues
of EUR 71.2 million in fiscal year 2007, up almost 63% year-on-year. More
than 55% of revenues are recorded abroad, in particular in Asia.

Investor relations contact

Manz Automation AG
Birte-Christina Benecke
Tel.: +49 (0)7121 – 9000-21
Fax: +49 (0)7121 – 9000-99
E-Mail: bbenecke@manz-automation.com

cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 – 205855-11
Fax: +49 (0)611 – 205855-66
E-Mail: wiehle@cometis.de

01.04.2008 Financial News transmitted by DGAP