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Manz AG — M&A Activity 2008
Feb 4, 2008
273_rns_2008-02-04_dcee0a44-eb13-49f4-b6cd-755548b3945b.html
M&A Activity
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Corporate | 4 February 2008 11:40
Manz Automation AG submits offer for Taiwan-based Intech Machines Co. Ltd.
Manz Automation AG / Acquisition
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.
- 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
Reutlingen, February 04, 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 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.
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. In addition,
Manz Automation AG is planning to equip laboratory systems in the
pharmaceuticals and life science sector with its technology (systems.lab).
Reutlingen-based Manz Automation AG was formed in 1987 and has branches in
the USA, Taiwan, Korea, China and Hungary. The total revenues of the Manz
group after nine month in fiscal year 2007 rose to approximately EUR 46.8
million, up almost 50% year-on-year. More than 60% 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: [email protected]
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 – 205855-11
Fax: +49 (0)611 – 205855-66
E-Mail: [email protected]