Metalor Technologies International SA (Metalor) boosts Asian footprint and acquires NECC's Coatings Division.
Metalor Technologies International SA and NECC (www.ne-chemcat.co.jp/eg) have signed an agreement for the Metalor Group to acquire NECC's Coatings Division in Asia. The transaction is expected to be closed in a few weeks.
Headquartered in Tokyo, NECC's Coatings Division (2010 net sales-excluding precious metals-of JPY 4.7 billion/CHF 53 million) supplies the electronics industry with precious metals-based chemicals, and provides it with electroplating processes and equipment. It employs over 100 staff at sites in Japan, Singapore, Taiwan, Korea and China. Metalor Group had already been the exclusive distributor of NECC Coatings products outside of Japan and Korea since 2002.
Scott Morrison, CEO of Metalor, commented "This acquisition is highly complementary to Metalor Group's existing Advanced Coatings Division in terms of products, customers and geographical footprint, and will confirm Metalor's position as a leading supplier to the electronics and decorative precious metals plating markets".
Joel Lacourte and Jean-Hubert Vial, respectively Managing Partner and Director at Astorg Partners, declared "The acquisition of NECC's Coatings Division is the new step of an ambitious build-up strategy, jointly conducted by Metalor's management and Astorg Partners, further to the acquisition of AMI Doduco Americas in December 2009."
Kenji Kasuga, NECC Executive Group Vice-President, added "My team and I are very pleased to be joining the Metalor Group since our activity is at the heart of Metalor's business. We also look forward to being Metalor's direct presence in Japan and in Korea and to offering new products and services in these important markets."