Press releases () Oerlikon sells property in Arbon
Oerlikon takes a further step in its strategic focussing of the Group
Pfäffikon SZ, March 23, 2012 - Today, Oerlikon announces the sale of its 200 000 sqm Arbon (Switzerland) property "Saurer Werk II", to HRS Investment AG, Frauenfeld (Switzerland). The selling price amounts to some CHF 35 million and will be recognized as "other income" in the first quarter 2012. Oerlikon will lease back 14 000 sqm of production and office space as part of the transaction. The operational activities of Oerlikon Textile are not affected by the sale of the property.
The Oerlikon Group has owned the property since 2007 when it acquired the site as part of the Saurer AG acquisition. Utilization of production and office space was rationalized from 76 000 sqm to 14 000 sqm during Oerlikon's 2008/2009 operational restructuring, and Oerlikon now employs around 100 people at the facility. The sale of this property demonstrates Oerlikon's continued focus on further development of the technology portfolio and further strengthening of the Group's financial position.