This deal is part of the strategy to expand the presence of Mersen's electrical segment in the overvoltage protection market. Mersen's goal is to achieve close to €40 million of sales in this segment by 2018. This deal follows the acquisition of a majority stake in Cirprotec (Spain) in February 2014, which provided the Group with a strong expertise in IEC standards. Mersen will now build on the recognized ASP brand in China and an efficient industrial platform to roll out across the Asian region which is currently adopting predominantly a technology already deployed in Europe.
ASP has been majority owned by a Taiwanese group (CIMIC) since 2009. The company has a sales network covering the whole China territory and a manufacturing facility in Guangzhou. This business will be integrated into Mersen's Electrical segment and will contribute some €6 million to the Group's annual sales.
This deal is scheduled to be completed by September, following approval by the Chinese authorities.
Gilles Boisseau, Group Vice-President Electrical Protection, said: "This deal allows the Group to pursue its growth in the power quality and safety area, benefiting from this market's attractive growth. I would like to extend a warm welcome to ASP employees and I am delighted they will be joining the Mersen teams based in China. Together, we will continue to offer our clients the best solutions tailored to their needs".
Paris, June 24, 2015
About Mersen
Global expert in electrical specialties and graphite-based materials, Mersen designs innovative solutions to address its clients' specific needs to enable them to optimize their manufacturing process in growth sectors such as energy, transportation, electronics, chemical, pharmaceutical and process industries.
Mersen, with its 6,400 employees working across 35 countries, recorded sales of €731 million in 2014.
Visit our website www.mersen.com
Contact Press ContactVéronique Boca Nicolas Jehly / Guillaume Granier
VP Financial Communication
Mersen FTI Consulting Strategic Communications
Tel. + 33 (0)1 46 91 54 40 Tel. +33 (0)1 47 03 68 10
Email: dri@mersen.comEmail: nicolas.jehly@fticonsulting.com/
guillaume.granier@fticonsulting.com
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