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Merck seeks growth with tie-up

Korea chief Grund hopes to step up collaboration with local companies

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Published : 2014-05-26 20:50
Updated : 2014-05-26 20:57

Merck Korea said Monday that it expects Merck’s sales and revenue to jump dramatically after the acquisition of AZ Electronic Materials, a materials producer for displays and semiconductors, by its German headquarters in early May.

“Merck will be able to record a double-digit increase in sales as well as revenue (this year) with the help of the acquisition of AZ Electronic Materials,” said Michael Grand, managing director of Merck Korea, at a press meeting in Seoul. 
Michael Grund, managing director of Merck Korea, speaks at a press meeting in Seoul, Monday. (Merck Korea)

Merck, one of the leading chemical firms in the world, generated 11.1 billion euros ($15.1 billion) in sales worldwide in 2013, down from 11.2 billion euros in 2012.

The firm’s profit margin, however, increased to 30.4 percent of total revenue in 2013, up from 27.6 percent a year before.

The managing director of the Korean branch pointed out that efficiency in supply chain, production and research and development played a major role in the profit margin increase.

Earlier this month, Merck completed the acquisition process of AZ Electronic Material, which produces advanced materials widely used in integrated circuits and devices, flat-panel displays, and light-emitting diodes.

The firm said the acquisition will help boost its collaboration with display manufacturers such as Samsung Display and LG Display and Korean chipmakers including Samsung Electronics and SK hynix.

“With AZ Electronic Materials, Merck will not only be able to further expand its presence in the important Asian growth market, but also to raise exposure to exciting global megatrends in electronic materials ― from smartphones to the most advanced computing devices,” said Grand.

Merck, which produces materials for display panels, has long been working with Korean display firms.

The German company is said to be working with LG Display and printer maker Epson to develop an ink-jet printing technology that would help boost efficiency in organic light-emitting diode panel production.

The director said that the firm, which is currently considering entering the biosimilar market, will seek cooperation with Korean companies in the field, adding that Merck’s well-established relations with governments and expertise in the pharmaceutical business will create synergy effects.

By Kim Young-won (wone0102@heraldcorp.com)

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