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Global Crystal (6488-TW), a leading manufacturer of silicon wafers, announced today (30) that it intends to publicly acquire Siltronic AG, a major manufacturer of silicon wafers in Germany. Upon completion of the acquisition, Global Crystal is expected to account for 30% of the market, outperforming the market. It is the second largest silicon wafer factory in the world and is close to 33% of Shin-Etsu, which ranks second. At the same time, thanks to the merger of large factories, it favors the development of the industrial order and silicon. Wafer prices are stable.
Global Crystal intends to publicly acquire the outstanding shares of Siltronic AG, a German manufacturer of silicon wafers, at 125 euros per share, which is equivalent to a premium of 48%, and spend around 3.75 billion euros (approximately NT $ 127.33 billion). Within two weeks, after obtaining approval from the Siltronic Board of Supervisors and the Global Crystal Board of Directors, the BCA was signed.
Xu Xiulan pointed out that the public acquisition funds will be answered by bank loans, GDR issuance and existing cash; After the Siltronic merger, the business scale will increase by 70 to 80%, becoming 1.7 to 1.8 current global crystals, and the general future. The revenue scale will exceed the NT $ 100 billion mark.
When asked why Siltronic decided to sell its shares at this time, Xu Xiulan said that the semiconductor boom will improve year on year in 2021 and 2022. Both parties believe that launching mergers and acquisitions at this time will help increase the future product iterations and capacity expansion. Speed, etc., the combination of the two sides to cope with the future growth of the operation is very reasonable, and for customers, there is also a good supplier.
Global Crystal currently has 15 factories in 9 countries around the world, while Siltronic has 4 factories in 3 countries including Germany, Singapore and the United States. After merging with Siltronic, Global Crystal’s production capacity will be extended to 11 countries (in the United States). Existing factories) and 19 factories; Xu Xiulan said that recent geopolitical and epidemic factors have affected global manufacturing design, and having more production bases is also one of Global Crystal’s advantages.
Global Crystal’s revenue last year was 58.09 billion yuan, and its net profit after tax was 13.64 billion yuan; while Siltronic AG’s revenue last year was around 1.27 billion euros, equivalent to about 44 billion Taiwanese dollars, and its net profit after tax was about 261 million euros, equivalent to NT $ 8,862 millions. yuan.
According to statistics from the Statista research institute, Japan’s Shin-Etsu ranks as the world leader in silicon wafers with 33%, while SUMCO has a 25% market share. Global Crystal’s market share is around 17%. The third largest in the world, Siltronic ranks fourth with a 13% market share. After Global Crystal acquires Siltronic, its market share will increase to 30%, which is expected to surpass Sheng Gao and become the second largest silicon wafer plant in the world.
The legal entity noted that the acquisition of Siltronic by Global Crystal will bring positive benefits to the order of the silicon wafer industry and help stabilize the price of silicon wafers with the reduction of competitors.
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