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Bystronic AG
M&A Activity • Sep 30, 2020
848_rns_2020-09-30_a2635638-09eb-4a15-900b-c3d2a3335f8b.html
M&A Activity
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News Details
Ad-hoc | 30 September 2020 07:00
Conzzeta: Bystronic takes full control of DNE Laser
Conzzeta / Key word(s): Investment
30-Sep-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
**Bystronic takes full control of DNE Laser
Enhanced flexibility to deploy growth strategy**
Zurich, September 30, 2020 – As part of the growth strategy for its Bystronic business unit, Conzzeta announces the signing of an equity transfer agreement to increase the participation in DNE Laser, Shenzhen, China, from 70% to 100%.
With the acquisition of the remaining minority stake of 30%, Bystronic reduces complexity and paves the way to meet the evolving client needs in sheet metal processing in China and beyond.
According to Alex Waser, CEO of Bystronic and EC Member of Conzzeta: “In context of the current market situation and our ambitious growth plans, this is a good moment in time to take full control of DNE Laser. We further strengthen our ties as we aim to jointly realize our potentials, also by developing our market coverage across client groups as well as by making our product offering more complete to the benefit of our clients.”
Bystronic acquired an initial participation in DNE Laser of 51% in July 2016, followed by an increase to 70% in August 2019. DNE Laser contributed in 2019 net revenue of CHF 83 million to the sheet metal processing segment revenue of Conzzeta. DNE Laser will continue to operate under its own brand and with a dedicated sales and service organization for its cost-efficient laser cutting equipment to serve entry level clients, complementing the product and solution offerings of Bystronic.
Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; [email protected]
About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. About 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials and Outdoor segments. In December 2019, Conzzeta announced a strategic focus on the Sheet Metal Processing segment and the sale of all its other activities. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).
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: | 1137743 |
| End of Announcement | EQS Group News Service |