EQS-Adhoc: Conzzeta: Divestment of Schmid Rhyner
EQS Group-Ad-hoc: Conzzeta / Key word(s): Disposal Step towards new focus on Bystronic Zurich, December 20, 2019 - Conzzeta reports the signing of a binding agreement to divest its Schmid Rhyner business unit to the specialty chemicals group Altana, headquartered in Wesel, Germany. The closing of the transaction is expected by the end of the first quarter 2020, subject to regulatory approval. Within Altana, Schmid Rhyner will be integrated into the Actega division. Actega develops and produces specialty coatings, printing inks, adhesives and sealants, focusing on the printing- and packaging industry and plastic compounds for the healthcare industry. It has a global presence and generated EUR 353 million of sales in 2018, representing 15.3% of Altana group sales. The Schmid Rhyner business unit of Conzzeta generated net revenue of CHF 54 million Michael Willome, Conzzeta Group CEO, commented: "Altana is the ideal partner. With a complementary product offering and the global market access, Actega provides the best possible perspectives for the employees of Schmid Rhyner. After the successful repositioning of Schmid Rhyner from commercial printing towards innovative packaging solutions over recent years, the time has come to open the next chapter. This is a further step towards the new focus of Conzzeta on the Bystronic business unit." Martin Babilas, Altana Group CEO, commented: "In acquiring Schmid Rhyner, we are continuing to systematically pursue the Altana strategy of generating value-creating growth through targeted acquisitions." Thorsten Kröller, President of Actega, commented: "With the acquisition we strengthen our competences in the area of overprint varnishes. It enables us to open up new markets and application areas, especially in the fields of flexible packaging and digital printing." Jakob Rohner, CEO of Schmid Rhnyer, commented: "Our agreement reflects a compelling industrial logic. The two companies together will provide a comprehensive offering of UV and WB inks and varnishes. Our team openly embraces the opportunity of becoming part of Actega. Schmid Rhyner will benefit from the broadened distribution channels for future growth." Inquiries Conzzeta is a broadly diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. Conzzeta strives for leading positions in its target markets, above-average growth and long-term value creation. Over 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials, Graphic Coatings and Outdoor segments. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON). About Altana ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK, ECKART, ELANTAS, and ACTEGA, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service. Headquartered in Wesel, Germany, the ALTANA Group has 47 production facilities and Additional features: Document: http://n.eqs.com/c/fncls.ssp?u=DQPXDGQHUL Document title: Divestment Schmid Rhyner End of ad hoc announcement |
Language: | English |
Company: | Conzzeta |
Giesshübelstrasse 45 | |
8045 Zürich | |
Switzerland | |
Phone: | +41 44 468 24 49 |
Fax: | +41 44 468 24 53 |
E-mail: | [email protected] |
Internet: | www.conzzeta.com |
ISIN: | CH0244017502 |
Valor: | A117LR |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange |
EQS News ID: | 941047 |
End of Announcement | EQS Group News Service |
|
941047 20-Dec-2019 CET/CEST