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Surface Solutions Impacted by COVID-19; Structural Growth Drivers Remain Intact

Surface Solutions is a technology and market leader in attractive key markets. Its unique portfolio of solutions and services and well-established base of trusted customers serve as high barriers of entry, enabling the Division a certain degree of pricing power. The Division has a global footprint of 155 sites in 37 countries, which allows it to serve customers in close proximity.

The Division was heavily impacted in 2020 by pandemic-weakened end markets. Excluding the extraordinary COVID-19 year, the Division has a strong track record in delivering structural growth through the cycle with a compounded annual growth rate of 16% from 2009 to 2019. Its end markets, like automotive, aerospace, tooling, power generation and general industries, will recover and drive further mid- and long-term growth opportunities for the Division. Boosting organic growth further are complementary M&As with promising technologies, market positioning, solutions and skills.

 
 

Sustainable Innovation Driving Growth

Surface Solutions has a comprehensive portfolio of materials, equipment and services that places it in a class of its own. The competence from its highly specialized and skilled R&D and engineering teams consisting of more than 1 100 engineers ensures a well-filled innovation pipeline of solutions that fulfill the needs of customers while contributing to sustainability. Highly productive and reliable systems, standardized or customizable materials for surface coatings and additive manufacturing, a global network of production and service coating centers that provide fast response times, timely delivery and near after-sales support are the key factors driving the Division’s growth in attractive end markets.

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