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Manz Automation Submits Offer for Taiwan's Intech |
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Written by Philip Buonpastore
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Tuesday, 05 February 2008 |
REUTLINGEN, GERMANY - Manz Automation has published an
acquisition offer for Intech Machines of Taiwan, manufacturer of
wet-chemical process systems for the PCB and LCD industry. The company plans to acquire an interest of at least 51% in Intech by
the end of March.
The transaction is anticipated to cost $38 million. Intech has about
900 employees in Taiwan and China, with revenues near $73.2 million for
fiscal year 2007.
Dieter Manz, company CEO, said, "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 the
future ultra-high growth Asian market." The company is anticipating
growth as a result of the acquisition, and will publish its forecast
for fiscal year 2008 after successfully completing its acquisition of
Intech. |
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