Press releases () Successful sale of the Vacuum Segment closed
Moving ahead with stronger focus on surface solutions and advanced materials
Pfäffikon SZ, Switzerland – September 1, 2016 – Oerlikon announced today that it has successfully concluded the sale of the Vacuum Segment to Atlas Copco.
As announced in November 2015, Oerlikon signed an agreement to divest its vacuum business to Atlas Copco. After receiving all the required regulatory approvals in July 2016, the closing of the sale has now been successfully completed.
The divestment is another step in the execution of Oerlikon’s strategy to become a global surface solutions and advanced materials powerhouse. The divestment of the vacuum business frees up resources for Oerlikon to invest in its leading businesses and to fund innovation and operational excellence, as well as organic and inorganic growth. The transaction is based on an enterprise value of CHF 525 million. In the 2016 full-year financial statements, the vacuum business will be reported under discontinued operations. Depending on final adjustments post-closing, Oerlikon expects a net cash impact of around CHF 330 million after transaction and tax costs and the result from discontinued operations in the Group’s 2016 income statement to be approximately CHF 280 million, including deconsolidation effects. Atlas Copco, a market leader in the vacuum and compressor sector, has taken over all the assets, and the about 1 600 employees of the Vacuum Segment have been transferred to the new owner.
Oerlikon CEO Dr. Roland Fischer said: “The closing of the transaction marks a milestone in our strategy implementation. The demand for surface solutions and advanced materials is growing and offers attractive opportunities. With the sale, we can concentrate our efforts and resources in developing and advancing this business.”
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.
For further information please contact:
Head of Group Communications
T +41 58 360 96 02
F +41 58 360 98 02
Head of Investor Relations
T +41 58 360 96 22
F +41 58 360 98 22
OC Oerlikon Corporation AG, Pfäffikon, (together with its affiliates hereinafter referred to as “Oerlikon”) has made great efforts to include accurate and up-to-date information in this document. However, Oerlikon makes no representation or warranties, expressed or implied, as to the truth, accuracy or completeness of the information provided in this document. Neither Oerlikon nor any of its directors, officers, employees or advisors, nor any other person connected or otherwise associated with Oerlikon, shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this document.
The contents of this document, including all statements made therein, is based on estimates, assumptions and other information currently available to the management of Oerlikon. This document contains certain statements related to the future business and financial performance or future events involving Oerlikon that may constitute forward-looking statements. The forward-looking statements contained herein could be substantially impacted by risks, influences and other factors, many of which are not foreseeable at present and/or are beyond Oerlikon’s control, so that the actual results, including Oerlikon’s financial results and operational results, may vary materially from and differ than those, expressly or implicitly, provided in the forward-looking statements, be they anticipated, expected or projected. Oerlikon does not give any assurance, representation or warranty, expressed or implied, that such forward-looking statements will be realized. Oerlikon is under no obligation to, and explicitly disclaims any obligation to, update or otherwise review its forward-looking statements, whether as a result of new information, future events or otherwise.
This document, including any and all information contained therein, is not intended as, and may not be construed as, an offer or solicitation by Oerlikon for the purchase or disposal of, trading or any transaction in any Oerlikon securities. Investors must not rely on this information for investment decisions and are solely responsible for forming their own investment decisions.
P: +41 58 360 96 02
F: +41 58 360 98 02
OC Oerlikon Management AG, Pfäffikon
Import as VCF