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Oerlikon successfully acquires Metco from Sulzer AG


(Switzerland)

Oerlikon announces the successful closing of 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. After closing, Oerlikon consequently updates the guidance for the fiscal year 2014. Including a consolidation of Metco for seven months, the Group expects compared to 2013 order intake and sales to grow exceeding 10 % and 15 %, respectively. EBIT margin for the Group is expected at around 10 % and EBITDA margin at around 15 % including full absorption of all related transaction/integration costs and accounting effects.

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. The Segment has an outstanding global footprint and a unique technology, product and service offering. 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 combination of Oerlikon Balzers and Oerlikon Metco under one umbrella is a perfect fit of technologies, business models and market access for the benefit of our customers. For the Oerlikon Group this transaction marks a major step to grow the business after a strong phase of portfolio shaping”, Brice Koch adds.

Click here to view more details.


Oerlikon

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