Merck Acquires Leading Manufacturer of Effect Pigments in China
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DARMSTADT, Germany & SHANGHAI--(Business Wire)-- Merck KGaA announced today that it has acquired Suzhou Taizhu Technology Development Co. Ltd. ("Taizhu"), a leading supplier of effect pigments located in Taicang near Shanghai, China. With total revenues of more than € 14 million in 2008 and 300 employees Taizhu is one of the biggest effect pigments companies in the Chinese market. The acquisition is of high strategic importance to the Merck pigments business. Within the scope of this transaction, Merck has acquired the production site of Taizhu in Taicang, 40 km from Shanghai, as well as the entire sales and marketing organization in China and abroad for a total consideration of € 28 million. Klaus Bischoff, Head of the Performance & Life Science Chemicals division at Merck, commented: "The transaction is highly attractive for Merck because Taizhu`s products complement our premium product portfolio with a range that mainly serves the growing value-for-money market segment. In addition, Taizhu`s customer base ideally complements our own. In recent years, Taizhu has built an outstanding reputation as a reliable source of high-quality effect pigments." China is one of the world`s fastest growing markets and is forecasted to become the second biggest effect pigment market by 2010, second only to the United States. Merck's Chemicals business subsidiary has been operating in Shanghai since 1997. About Merck Pigments Merck is one of the world`s leading suppliers of effect pigments for the coatings, plastics, printing, cosmetic, food and pharmaceutical industries. Application possibilities range from cars to packaging and high-tech products to building facades. More information about the range of products offered by Merck can be found at: www.merck4pigments.com. About Merck Merck is a global pharmaceutical and chemical company with total revenues of € 7.6 billion in 2008, a history that began in 1668, and a future shaped by approximately 33,000 employees in 60 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 an approximately 70% interest and free shareholders own the remaining approximately 30%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since. Merck Steffen Grimminger, +49-6151-72-7317 Copyright Business Wire 2009
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