Electrical specialities and graphite-based materials company Mersen announces the acquisition of Chinese surge protection device company ASP. The deal is said to be part of a new strategy to enhance Mersen's presence in the overvoltage protection market.
Mersen's goal is to achieve close to €40 million of sales in the segment by 2018. This deal follows the majority stake acquisition of Cirprotec (Spain) that helped Mersen greater expertise in IEC standards.
ASP has been majority owned by a Taiwanese group (CIMIC) since 2009. This business will be integrated into Mersen's Electrical segment and will contribute some €6 million to the Group's annual sales. This deal is scheduled to be completed by September, following approval by the Chinese authorities.
"This deal allows the Group to pursue its growth in the power quality and safety area, benefiting from this market’s attractive growth," said Gilles Boisseau, group vice-president electrical protection. "I would like to extend a warm welcome to ASP employees and I am delighted they will be joining the Mersen teams based in China. Together, we will continue to offer our clients the best solutions tailored to their needs."