Effective October 1, 2014, Dr. Michael Grund, Representative Director and President of Merck Korea, a leading company for high-tech products in the pharmaceutical and chemical sectors, will expand his current role and assume responsibility as Representative Director and President of all AZ entities in Korea.
Merck has completed the acquisition of AZ electronics on May 2, 2014. With annual sales of approximately USD 730 million (€ 530 million) in 2013, AZ is a leading high-tech materials supplier with a strong operational presence in Asia, accounting for almost 80 percent of the total group revenues. More than 80 percent of the AZ Group revenue was generated by products with a leading position in their respective markets. AZ materials are widely used in integrated circuits and devices, flat panel displays, and light-emitting diodes. As such, Merck is a critical partner to the leading global electronics players as its chemical technology allows them to enhance existing processes and innovate new products.