Merck Korea Expects Boost from AZ Electronic Takeover

German pharmaceutical and chemical firm Merck KGaA has recently acquired AZ Electronic Materials, a specialty chemicals company.

Merck Korea managing director Michael Grund on Monday said the acquisition sharpened Merck's overall competitiveness by expanding the diversity of its product lines, and will serve as an opportunity for the firm to strengthen its focus on the East Asian market.

Founded in 1668, Merck is the world’s oldest chemical firm, while AZ, based in Luxemburg, specializes in components and materials for semiconductors.

Merck Korea built an advanced technology center with W14 billion (US$1=W1,024) in Pyeongtaek, Gyeonggi Province in 2008 and added its first OLED laboratories outside Germany there in 2011.

englishnews@chosun.com / May 27, 2014 12:55 KST