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Asia: Merck eyes profits abroad after $2.6B AZ buy

 |  May 4, 2014

Germany-based pharmaceutical and chemical firm Merck is reportedly eyeing new business in Asia after the completion of its acquisition of UK-based AZ Electronic Materials.

According to reports, Merck announced last Friday that its $2.6 billion acquisition of AZ has been finalized; Merck hopes the buyout will boost its position across Asia, where AZ receives the majority of its revenue, according to reports.

In a statement, the German firm said it now has an 81.3 percent control of AZ, and that with the acquisition the company will be able to boost its operations for the electronic product manufacturing process, “from smartphone to the most advanced computing devices.” Merck currently stands as the world’s largest liquid crystal maker for products with LCD screens.

Full content: Reuters

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