Mersen has signed an agreement to acquire ASP, a Chinese company specializing in overvoltage protection. This deal is part of the strategy to expand the presence of Mersen's electrical segment in the overvoltage protection market. Mersen's goal is to achieve close to €40 million of sales in this segment by 2018. This deal follows the acquisition of a majority stake in Cirprotec (Spain) in February 2014, which provided the group with a strong expertise in IEC standards. Mersen will now build on the recognized ASP brand in China and an efficient industrial platform to roll out across the Asian region, which is currently adopting predominantly a technology already deployed in Europe.
ASP has been majority-owned by a Taiwanese group (CIMIC) since 2009. The company has a sales network covering the whole China territory and a manufacturing facility in Guangzhou. 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.
