Press releases () All approvals received for the strategic divestment of Oerlikon’s Vacuum business
Pfäffikon SZ, Switzerland, July 15, 2016 – Oerlikon today announced that all regulatory approvals have been received to conclude the strategic sale of its Vacuum Segment to Atlas Copco. The divestment agreement, which was signed on November 20, 2015, is based on an enterprise value of CHF 525 million and marked an important milestone in the strategic transformation of the Oerlikon Group toward a surface solutions and advanced materials powerhouse. With the regulatory approvals, the closing of the transaction is planned for August 31, 2016.
Oerlikon CEO, Dr. Roland Fischer said: “We continue to execute on our strategic agenda to focus our business on surface solutions and advanced materials. According to plan the closing of this important transaction will be at the end of August and the expected net cash proceeds of around CHF 330 million will provide us with additional flexibility for our strategic way forward.”
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Oerlikon (SIX: OERL) is a leading global technology Group, with a clear strategy of becoming a global powerhouse in surface solutions, advanced materials and materials processing. The Group is committed to investing in value-bringing technologies that provide customers with lighter, more durable materials that are able to increase performance, improve efficiency and reduce the use of scarce resources. A Swiss company with over 100 years of tradition, Oerlikon has a global footprint of over 13 500 employees at more than 170 locations in 37 countries and sales of CHF 2.7 billion in 2015. The company invested CHF 103 million in R&D in 2015 and has over 1 350 specialists developing innovative and customer-oriented products and services.
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