AGC announced that they have 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.
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. With 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 in December last year and the acquisition of Taconic’s businesses this year 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.
The financial results relevant to this acquisition will be reflected in AGC's consolidated accounts from 2Q FY2019.