© manz Electronics Production | January 28, 2021
Manz completes the sale of its shares in Talus Manufacturing
Following the receipt of all regulatory approvals in Taiwan, the sale of Manz AG's 80.5% stake in Talus Manufacturing Ltd. to Lam Research Corporation has officially been completed. Previously, Lam Research's stake was 19.5%.
The sale price, while not fully disclosed, is in the mid double-digit million-euro range and is intended to be used by Manz to further focus on its core business. In particular, the funds are to be used for the expansion of its Energy Storage segment. US-based Lam Research is a provider of wafer fabrication equipment and services to the semiconductor industry. Back in 2016, Talus Manufacturing had commenced operations as Lam's "Global Refurbishment Center" and has since been managed by Manz AG in the Contract Manufacturing segment. From the beginning, the company's focus was on the modernisation and refurbishment of existing semiconductor manufacturing equipment. Since then, Talus Manufacturing had developed very positively. This is also reflected in the average annual growth rate of around 125% since its inception. "The cooperation with Lam Research is a true success story. Due to the very positive company development, the value of our investment has multiplied since its inception in 2016. The sale of our shares now results in a one-time effect on earnings, which we will invest in our strategic core business. We will focus in particular on the high-growth Energy Storage segment. Thanks to the enormous market momentum worldwide, we recorded orders of more than 100 million euros here in 2020. And for 2021, we expect that numerous growth opportunities will again present themselves to us as a high-tech machinery manufacturer. We want to make even better use of this potential through the investments that are now possible,“ says Martin Drasch, CEO of Manz AG, in a press release.