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Metalor agrees to buy NECC-Coatings

Metalor Technologies International SA (www.metalor.com) and NECC (www.ne-chemcat.co.jp/eg) have signed an agreement for the Metalor Group to acquire NECC’s Coatings Division in Asia. The deal is expected to complete in a few weeks.

NECC’s Coatings Division serves the electronics industry with precious metals chemicals, processes and electroplating equipment, and employs some over 100 staff at sites in Japan, Singapore, Taiwan, Korea and China. Metalor Group, had already been the exclusive distributor of NECC Coatings products outside of Japan and Korea since 2002.

The Metalor Group, headquartered in Neuchatel, Switzerland, is specialized in the field of precious metals and related advanced technologies. Present on 3 continents, Metalor employs more than 1600 people, Metalor has been controlled by the independent fund management company Astorg Partners since October 2009.

Scott Morrison, Metalor Group’s CEO commented: “This acquisition is highly complementary to Metalor Group’s existing Advanced Coatings Division in terms of products, customers and geographical footprint, and will confirm Metalor’s position as a leading supplier to the electronics and decorative precious metals plating markets.”

Kenji Kasuga, NECC Executive Group Vice-President, said “My team and I are very pleased to be joining the Metalor Group since our activity is at core of Metalor’s business. We also look forward to being Metalor’s direct presence in Japan in Korea to offer new products and services in those markets.”

The acquisition of NECC’s Coatings Division is the first step of an ambitious build-up strategy established in common by Metalor’s management and Astorg Partners.

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