June 12, 2019ManagementOthers

AGC completes acquisition of US-based Taconic’s global operations of the Advanced Dielectric Division

AGC (headquarters: Tokyo, President & CEO: Takuya Shimamura) is pleased to announce that, it has completed the acquisition of the Advanced Dielectric Division (ADD) and a portion of the Industrial Products Division (IPD) of US-based Taconic which was previously announced on February 19, 2019. The financial results relevant to this acquisition will be reflected in AGC's consolidated accounts from 2Q FY2019.

Established in 1961, Taconic operates two divisions: the ADD and IPD. The ADD manufactures and sells super high-performance rigid Copper Clad Laminates (CCL), an enabling printed circuit board technology for RF and microwave electronics, including automotive ADAS and mobile communications; IPD manufactures and sells industrial composite films, fabrics and tapes commonly used in many industrial processes including semiconductor manufacturing composite molding and sealing and packaging.

Under its AGC plus management policy, the AGC Group has made a commitment to positioning mobility related business, electronics-related business and life science related business as its strategic initiatives. By the acquisition of Taconic’s business, AGC will reinforce its mobility-related and electronics-related business. AGC believes that the acquisition of Park Electrochemical’s electronics business completed December last year and the acquisition of Taconic’s businesses this time will help establish its business platform in the high-end rigid CCL market, which is expected to grow significantly with the spread of 5G and autonomous driving in the years ahead. AGC also is committed to addressing broader customer needs by combining its fluorine and glass materials with the industrial composite films, technologies and know-how of Taconic.

Reference

Company Overview of Taconic
・Representative Andrew Gordon Russell
・Year established 1961
・Headquarters New York, US
・Number of employees Approx. 730 (as of Feb. 2019)
・Main lines of business Manufacture and sale of high-end prepreg/rigid CCL, and industrial composite films
Media inquiries
Kazumi Tamaki, General Manager, Corporate Communications & Investor Relations Division
AGC Inc.
Contact: Momoyo Nakanishi
TEL: +81-3-3218-5603
E-mail: info-pr@agc.com