Subscribe
E-Paper
 |
By Kim Hyun-bin
Merck, a leading science and technology company, is changing the name of its Performance Materials division to Electronics. The new name is the result of a strategic realignment conducted over the past several years under Merck's so-called "Bright Future" transformation program that began in 2018.
"The renaming of our business division to Electronics is a logical step for us. After all, the new name underscores our strategic focus on the electronics industry. At the same time, it clearly illustrates our contribution to a world characterized by tremendous technological advances and exponential data growth," said Kai Beckmann, a member of the Executive Board of Merck and CEO of the Electronics unit. "Under the Bright Future umbrella, we've developed into a leading player within the electronics industry over the last few years. And with the new name Electronics, we're now also making it clear, at a glance, what our business sector represents."
The Electronics division is involved in all major technology trends including 5G, Big Data, autonomous driving, artificial intelligence and the Internet of Things. Due to these megatrends, the demand for ever smaller, faster and more energy-efficient electronics products continues to grow.
In 2019, Merck acquired Intermolecular, a California-based company specializing in the development of advanced materials. The move bolstered Merck's ability to produce cutting-edge materials. It also acquired Versum Materials that year, which is a major materials supplier to the semiconductor industry.
The name Versum Materials, will be superseded by the new name of the business division. However, the name change will not have any effect on the existing organizational structure of the business, which comprises the three units: Semiconductor Solutions, Display Solutions and Surface Solutions.
The Electronics division covers a particularly broad range of products, including high-tech materials and systems for the semiconductor industry as well as liquid crystal and OLED materials and pigments for coatings and cosmetics.
In September 2020, Merck raised its expectations for average annual organic sales growth of Electronics to 3 percent to 4 percent against the backdrop of its focus on the semiconductor industry. That business division currently generates around 90 percent of sales in the Semiconductor Solutions and Display Solutions units.
