CCCS wants public feedback on proposed acquisition of Fujifilm and KMG

The public forum runs from 17 August 2023 to 31 August 2023 at 5 p.m.

The Competition and Consumer Commission of Singapore (CCCS) declared a public consultation on FUJIFILM Holdings America Corporation’s proposed acquisition of CMC Materials KMG Corporation (KMG) and certain of its direct and indirect subsidiaries.

In a statement, CCCS said the proposed transaction will involve Fujifilm securing 100% of the equity interests of the electronic chemicals business of Entegris, Inc., which is operated by KMG. KMG is currently fully owned by CMC Materials LLC, which is fully owned by Entegris, Inc.

CCCS accepted an application from Fujifilm and CMC Materials LLC on 11 August 2023 for a decision on whether the Proposed Transaction would infringe on section 54 of the Competition Act 2004, which “bans mergers that have resulted, or may be expected to result, in a substantial lessening of competition within any market in Singapore.”

The application showed that Fujifilm and KMG overlap in the supply of cleaning solutions used principally in the semiconductor manufacturing process but can also be used in adjacent industries that have similar manufacturing processes.

Fujifilm and KMG also indicated in their application that the proposed acquisition will not result in a substantial lessening of competition in Singapore because:

a. Existing and potential competitors can easily expand or enter the market to exert competitive pressure on the merged entity.
b. The relevant product market is fragmented and highly competitive. Posttransaction, there will continue to be a large number of strong competitors who will exercise competitive constraints on the merged entity.
c. There is no material differentiation between Cleans supplied by different competitors, and customers would frequently dual or multi-source products, or require a supplier to license its competitors so that customers can easily switch between qualified suppliers without any significant costs or delays.

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Competition and Consumer Commission of Singapore

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