BASF acquires electronic chemicals business of Merck KGaA
February 3, 2005 by admin
BASF Aktiengesellschaft, Ludwigshafen, today acquired the global electronic chemicals business of Merck KGaA, Darmstadt. The purchase price is €270 million. The transaction is still subject to approval by the regulatory authorities. Closing is expected in the second quarter of 2005.
In the first nine months of 2004, Merck increased global sales at its electronic chemicals business by 16 percent to €155 million. The business currently has about 600 employees.

The acquisition includes Merck’s production sites and distribution centers for high-purity chemicals in Taiwan, Malaysia, China, Singapore, France, the Netherlands and Germany. For a given period of time – at the latest until the end of 2005 – Merck and BASF shall jointly manage the business in the key Taiwanese market under leadership by BASF. This is intended as a signal to both customers and employees that both parties are particularly interested in ensuring a smooth transition and developing the business further. Following the end of the transition period – but by no later than the end of 2005 – BASF has the right to acquire Merck’s share in operations in Taiwan. Electronic chemicals are essential for the production of semiconductor chips and flat screens. Such chemicals are extremely pure and are characterized by above-average growth rates. The global market for electronic chemicals was worth €3 billion in 2003 and has grown by an average of 10 percent per year in recent years. Note: A press photo can be downloaded from the Internet at www.basf.de/pressphotos, keyword “Acquisitions”. About Merck: Merck is a global pharmaceutical and chemical company with sales of EUR 7.2 billion in 2003, a history that began in 1668, and a future shaped by 28,300 employees in 56 countries. Its success is characterized by innovations from entrepreneurial employees. Merck’s operating activities come under the umbrella of Merck KGaA, in which the Merck family holds a 74 percent interest and free shareholders own the remaining 26 percent. The former U.S. subsidiary, Merck & Co., has been completely independent of the Merck Group since 1917. |
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