Oerlikon Forms New Surface Solutions Segment
Oerlikon AG, Pfäffikon, Switzerland, has successfully closed the transaction to acquire Metco from Sulzer AG ahead of schedule. Oerlikon announced on January 31, 2014 an agreement to acquire Metco for an Enterprise Value of CHF 1.0 billion. After having received all required merger control approvals, the parties were able to close the transaction already on June 2, 2014. A combination of Metco with Oerlikon's existing Coating business will create a global technology leader in surface solutions under the leadership of Roland Herb as Surface Solutions Segment CEO.
“By forming a world class technology leader for surface solutions, Oerlikon sets out for a long term profitable growth path. We are aware it needs hard and consistent work to realize the value of this transaction. Already in 2015, we will start to see first positive impacts, the full value will become visible from 2016 onwards”, says Oerlikon CEO Brice Koch.
The Surface Solutions Segment has pro-forma sales of CHF 1.2 billion in 2013, becoming the largest Segment of the Oerlikon Group representing 34 % of pro-forma Group sales. Oerlikon Balzers is the global technology leader in the service-driven PVD Thin Film business (PVD: Physical Vapor Deposition). Oerlikon Metco is the global technology leader in the Thermal Spray and surface applications business. The combination will expand Oerlikon’s addressable growth market in surface solutions to some CHF 9 billion. The two businesses are complementary in terms of their technological strengths, business models, market access and geographical footprint, enabling them to increasingly meet customer requirements in the years to come. The combined businesses will operate some 130 facilities with over 110 coating centers in 35 countries around the world, employing around 6,000 people.
The Surface Solutions Segment will be headquartered in Balzers, Liechtenstein. Research & Development activities will be focused in Liechtenstein and Switzerland to maintain and further accelerate the position of the region as leading location for the global surface solutions industry. The new segment will be under the leadership of Roland Herb as Segment CEO. Roland Herb started his career at Oerlikon Balzers in 1997 and has a proven track record in managing global businesses including M&A and integration projects, since 2006 responsible for about 80 % of the Oerlikon Balzers business.
The Oerlikon Balzers Business Unit will be headed by Bernd Fischer, having joined Oerlikon in 2011. Thomas Gutzwiller, who held several management positions at Sulzer and who is for 14 years with Metco, will lead the Oerlikon Metco Business Unit.
OC Oerlikon Balzers AG Business Unit Coating Services
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