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Manz Automation has finally put forward plans to acquire the remaining 24.4% of Intech Machines, the subsidiary that the company has been aiming for since early 2008.
The investment volume for the purchase of the remaining interest is expected to total around €6 million. The company intends to conclude the acquisition, which will be based on Taiwanese legislation, by the start of 2010.
Acquiring the whole of Intech gives the company the latitude to take decisions that it needs to be able to implement corporate strategies, sales structures, production processes and product innovations in a target-oriented manner. It will also bolster the company's consistent use of the cost advantages that Asia offers.
Dieter Manz, Manz Automation AG's CEO, explained the reasons for this strategic step: "Acquiring Intech Machines last year gave us access to the technology used in the production of wet-chemical equipment. Therefore we are able to cover major production stages for the LCD and solar industries. Taking over the remaining interest will allow us to secure this expertise in its entirety. At the same time, it will enable us to improve our opportunities to further reinforce our position on the high-growth Asian market."
The company intends to conclude the acquisition, which will be based on Taiwanese legislation, by the start of 2010.
