Merck Korea’s chief Kim Woo-kyu poses at the company’s digital board, which shows Merck’s Performance Materials business sector will get a new name of Electronics. Photo courtesy of Merck Korea

Materials biz sector of Merck gets new name

Merck has vied to change the way people access, store, process, and display information through its Performance Materials business sector, which has attempted to enable the future of electronics in a data-driven world.

Now, the German company is renaming the promising business sector as Electronics so that people will be able to know the visible result of its strategic realignment conducted over the past few years.

Merck also noted on March 5 that the measure demonstrates its milestone of the “Bright Future” transformation program that started back in 2018.

“The renaming of our business sector to Electronics is a logical step for us. After all, the new name underscores our strategic focus on the electronics industry. At the same time, it clearly illustrates our contribution to a world characterized by tremendous technological advances and exponential data growth,” said Kai Beckmann, who heads Merck’s Electronics.

“Under the ‘Bright Future’ umbrella, we’ve developed into a leading player within the electronics industry over the last few years. And with the new name Electronics, we’re now also making it clear, at a glance, what our business sector represents.”

Merck has tried to transform itself into a company, which spearheads such major technology trends as fifth-generation telecommunication, big data, artificial intelligence, and the internet of things, to name but a few.

“Bright Future” has been a backbone program for the transformation, which started after its acquisition of Intermolecular and Versum Materials in 2019.

In particular, the integration of Intermolecular offered unique processes and research capacities so that Merck can make the latest material innovations available to its customers in the electronics industry even more rapidly.

The acquisition of Versum Materials helped the outfit expand its portfolio to include innovation-driven, ultra-high-purity process chemicals, gases and equipment for semiconductor manufacturing, according to Merck.

Up until now, Merck has used the name Versum Materials separately, but the new name of Electronics will supersede Versum Materials.

However, Merck said that the name change will not affect the existing organizational structure of the lucrative business sector that includes the three business units Semiconductor Solutions, Display Solutions and Surface Solutions.