Further focussing of the portfolio
Pfäffikon SZ, Stans NW, April 16, 2012 – Oerlikon has signed an agreement with immediate effect to sell its 13.97 % minority stake in the Swiss aircraft manufacturer Pilatus Flugzeugwerke AG to Pilatus Flugzeugwerke AG, to IHAG Holding, Zürich and J.F. Burkart (Southfield Aircraft Ltd.). The parties agreed not to disclose the purchase price. The transaction will have a positive one time effect on Oerlikon’s 2012 financial result.
Oerlikon Group CEO Michael Buscher said: “This is another move toward a more streamlined portfolio focussed on our core growth businesses”.
Pilatus Flugzeugwerke welcomes the acquisition of Oerlikon’s minority stake by its existing Swiss shareholders who have been closely associated with the company for many years. “Both Swiss major shareholders, IHAG Holding and J.F. Burkart (Southfield Aircraft Ltd), have always proven to be reliable partners who fully support our strategy,” said Oscar Schwenk, Chairman and CEO of Pilatus Flugzeugwerke.