Corporate | 4 February 2008 11:40
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: 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 04.02.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------