Abstract
MERCK KGAA HAS FOUND A buyer for the high-purity electronic chemicals unit it put on the block last year. BASF is purchasing the unit for $350 million. The Merck business, which focuses on high-purity wet chemicals for semiconductor and flatscreen manufacturing, employs about 600 people and had sales in the first nine months of 2004 of roughly $200 million. With the deal, BASF will get Merck manufacturing and distribution sites in Taiwan, Malaysia, China, Singapore, France, the Netherlands, and Germany The deal is expected to close during the second quarter, pending regulatory clearances. Merck and BASF will jointly manage the business's Taiwanese operations until the end of the year to ensure a smooth transition at that strategic location. Merck will also manufacture electronic chemicals under contract for BASF at its Darmstadt, Germany, site. Merck says the sale will allow it to focus on businesses such as pharmaceuticals, pigments,specialty reagents, ...
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