Merck Rebrands Performance Materials as Electronics
Germany’s Merck is changing the name of its Performance Materials business segment to Electronics to reflect the strategic realignment the worldwide group has undergone over the past several years and mark what it says is an additional milestone in its “Bright Future” transformation program, begun in 2018.
The name change will not have any effect on the existing organizational structure of the segment, which includes the three business units Semiconductor Solutions, Display Solutions and Surface Solutions. The capabilities of Electronics now extend to a broad range of products and solutions, including high-tech materials and solutions for the semiconductor industry as well as liquid crystals and OLED materials for displays and effect pigments for coatings and cosmetics.
The acquisitions of Intermolecular and Versum Materials in 2019 kicked off the transformation of the business. In particular, Merck said the integration of Intermolecular, which offers unique processes and R&D capacities, allows it to offer the latest material innovations to its customers in the electronics industry more quickly.
With Versum, the chemicals, pharmaceuticals and life sciences player expanded its portfolio to include innovation-driven, ultra-high-purity process chemicals, gases and equipment for semiconductor manufacturing. The name of the acquired company, which has been in use separately until now, will be superseded by the new name of the business segment.
Kai Beckmann, member of the Merck executive board and CEO Electronics, said, “the new name underscores the segment’s strategic focus on the electronics industry as well as illustrating its contribution to a world characterized by tremendous technological advances and exponential data growth.” Under the Bright Future umbrella, he said, “we’ve developed into a leading player within the electronics industry over the last few years.”
In September 2020, Merck revised its expectations for average annual organic sales growth of Electronics to 3-4% against the backdrop of its focus on the semiconductor industry, which it said is showing strong growth. The segment currently generates around 90% of its sales in the two business units Semiconductor Solutions and Display Solutions.
Author: Dede Williams, Freelance Journalist
