09 September 2009 11:11 [Source: ICIS news]
LONDON (ICIS news)--Merck KGaA has bought Chinese effect pigments supplier Suzhou Taizhu Technology Development for €28m ($40.5m), the German company said on Wednesday.
Merck has acquired Suzhou Taizhu's production site at Taicang, which is 40km from ?xml:namespace>
“The transaction is highly attractive for Merck because Taizhu’s products complement our premium product portfolio with a range that mainly serves the growing value-for-money segment,” said Klaus Bischoff, head of Merck's performance and life science chemicals division.
Suzhou Taizhu is one of the biggest effect pigments companies in the Chinese market, according to Merck.
The Chinese company had sales of €14m in 2008 and has 300 employees, Merck said.
($1 = €0.69)
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