WATERBURY, CT – MacDermid Performance Solutions today announced the cessation of its joint venture with Tanaka Kikinzoku Kogyo, which was conducted through Electroplating Engineers of Japan Ltd.
MacDermid has agreed to divest all of its shares in the joint venture to Tanaka for an undisclosed sum.
“The joint venture was originally formed in 1965 as a way for the American company Sel-Rex to establish a presence in the Japanese market," said Joseph J. D’Ambrisi, Sr. VP of MacDermid Enthone Electronics Solutions. "Sel-Rex became part of Enthone Inc., and in 2015, part of MacDermid Performance Solutions. The integration of MacDermid, Enthone and the former OM Group assets into one business has created a leading global solutions provider to the electronics industry, including a large presence in Japan. This presence has eliminated the need for continuing the joint venture. Looking back, the work and cooperation between our two companies was a model for scientific collaboration. After the transaction is complete, both EEJA and MacDermid Enthone, through cross-licensing agreements, will continue to provide an uninterrupted supply of products to our customers.”
Julian Bashore, general manager of MacDermid Enthone Electronics Solutions, Japan said; “As a manufacturer of specialty chemicals and materials, MacDermid Enthone Electronics Solutions’ surface treatment and metal deposition chemistries provide value to our manufacturing customers in the electronics, automotive, and industrial markets. The integrated MacDermid Enthone Electronics Solutions business is renewing our commitment to the Japanese market through our best-in-class innovation and technical service support.“