Merck sells surface solutions to GNMI in Germany for $769.6 mn
Merck has completed the €665 million (~$769.6 million) sale of its global Surface Solutions business to GNMI. The move aligns with Merck's strategy to focus on tech-driven growth. GNMI will operate the unit under the new Susonity brand, with 1,100 staff transferred. German jobs are secured until 2032. Key sites in Germany, the US, and Japan remain, with long-term supply agreements in place.
'With the closure of this transaction, we are further sharpening our portfolio focus on technology-driven business,' said Belén Garijo, Chair of the Executive Board and CEO of Merck. 'Alongside the recent acquisitions of SpringWorks Therapeutics, HUB Organoids, Unity-SC, and Mirus Bio, the divestiture of non-strategic business remains a key component of our M&A strategy, geared toward ensuring long-term growth through innovation.'
'By divesting Surface Solutions, we are positioning our Electronics business sector even more strongly as a provider of semiconductor solutions. At the same time, GNMI offers new possibilities for the Surface Solutions business. This means that employees will gain long-term future prospects while customers will benefit from a broader product portfolio,' added Kai Beckmann, Member of the Executive Board at Merck and CEO Electronics. 'We thank our colleagues for their dedicated work and valuable contributions they have made for Merck in the past and wish them all the best for the future.'
'We are delighted to welcome the new employees to our company. Our activities complement one another to a large extent in terms of products, expertise and regional presence. Together, we are on an excellent footing to drive growth in a highly dynamic market segment,' said Ertian Su, Chairman & Chief Executive Officer of GNMI.
The transaction covers Merck's global Surface Solutions business with sales of more than € 400 million in 2024, which GNMI will continue under the new Susonity brand. Around 1,100 employees, more than 600 of whom are based in Germany, have been transferred to GNMI. As part of the agreement with Merck, GNMI has guaranteed both the future of the Gernsheim site and the employment of its staff based in Germany until 2032. Savannah, USA, and Onahama, Japan, will remain important production sites for Susonity alongside Gernsheim. Moreover, Merck and GNMI have entered into a series of supply and service agreements to ensure the seamless transition of the business.
Merck will remain the owner of the property at the Gernsheim site. The area used by Surface Solutions will be leased to GNMI on a long-term contract. The GreenTechPark Fluxum in Gernsheim is not affected by the divestment. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
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