4 October 2011
AZ Electronic Materials S.A. (“AZ”) today announces that it has acquired the polysilazanes coatings and resins business of Clariant AG, for a cash consideration of approximately €4m.
The acquired business, which has become a wholly-owned subsidiary of AZ, includes the world’s only commercial organic polysilazane manufacturing plant, located in India, as well as certain laboratory assets, intellectual property and contracts. The acquisition will enable AZ to expand its portfolio to organic polysilazanes, thereby facilitating the development of new business in displays, lighting, solar and non-electronic markets.
Geoff Wild, CEO of AZ, commented: “This small but strategically important acquisition allows us to consolidate our global position in polysilazane technology and provides us with access to key raw materials necessary for our planned growth in the LED and solar markets.”
Enquiries:
Majid Nazir
Head of Investor Relations
AZ Electronic Materials
+ 44 (0) 208 622 3825
majid.nazir@az-em.com
Editors notes:
AZ is a leading global producer and supplier of high-quality, high-purity specialty chemical materials, operating in the high-growth electronics market. Its materials are used in integrated circuits and devices, flat panel displays, LEDs and photolithographic printing. AZ is a critical partner to the leading global electronic players because our chemical technology allows them to enhance existing processes and enables them to innovate new products. This is critically important in the “digital world” where there is increasing global demand and a drive towards smaller, faster, more powerful and less expensive technology. AZ operates in ten countries, namely China, India, South Korea, Taiwan, Hong Kong, Japan, Singapore, the USA, France and Germany. It also has corporate and administrative offices in Luxembourg, the UK and Hong Kong, and employs over 1,000 people globally.