Merck acquires LITEC-LLL GmbH
A further step to strengthen activities in innovative lighting materials
Merck KGaA announced that it has acquired in full LITEC-LLL GmbH of Greifswald, Germany, a specialist in the research and development as well as production and marketing of ortho-silicate lighting materials. The acquisition of the company, which was founded in 2002, gives Merck access to the future-oriented business with light sources for LEDs. Merck is taking over LITEC's 16 employees along with the company's R&D, production, marketing & sales activities and established customer relationships. The site in Greifswald will be retained. The parties have agreed not to disclose the financial details of the transaction.
"The acquisition of LITEC is a further strategic step in building a business with innovative light sources in the medium to long term," explained Dr. Monika Kursawe, who heads the Advanced Materials unit at Merck Chemicals. Dr. Tews, Managing Director of LITEC-LLL GmbH, added: "With Merck we have found a partner who will ensure, within the scope of its strategic plans, the professional continuation of our developments."
Merck has been pursuing research and development of innovative light sources, e.g. YAG and TAG light sources for white-light LEDs since 2005. By integrating LITEC's competencies, Merck will enter the market for innovative, highly efficient light sources. In turn, Merck's global sales organization will have broader access to established LITEC products.
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