(RTTNews) – Merck said its Electronics business sector is upgrading top-line guidance for the second consecutive time, and is targeting an organic compound annual growth rate (CAGR) of 3% to 6% between 2021 and 2025. Also, the company plans to invest significantly more than 3 billion euros in innovation and capacities of its Electronics business sector up to the end of 2025. The investment is a part of the business sector’s Level Up growth program, previously announced by the company.
“Our highly attractive growth markets such as semiconductors and OLED are expanding at an increasing rate. By tapping into this momentum, we are significantly enhancing our growth prospects”, said Kai Beckmann, Member of the Executive Board of Merck and CEO Electronics.
The company will continue to heavily invest in research and development in leading-edge material solutions and plans to spend more than 2 billion euros in long-term fixed assets.