Business

Renova announces partial exit from its investment in Oerlikon

Pursuant to a press release issued by Liwet Holding AG, Zurich ("Liwet") on May 18, 2018, Renova has divested the majority of its shareholdings in Liwet, Renova's Swiss company holding a major stake in Oerlikon. As a result, Renova’s effective shareholding in Liwet dropped below the controlling block and amounts to 44.46 % in total. While Renova's shareholdings in Oerlikon have fallen from 43.04 % to approximately 20 %, Liwet’s stake in Oerlikon remains unchanged.

Oerlikon engineers materials, equipment and surfaces and provides expert services to enable customers to have high-performance products and systems with extended lifespans. Drawing on its key technological competencies and strong financial foundation, the Group is sustaining mid-term growth by executing three strategic drivers: addressing attractive growth markets, securing structural growth, and expanding through targeted M&A.

A leading global technology and engineering Group, Oerlikon operates its business in three Segments (Surface Solutions, Manmade Fibers and Drive Systems) and has a global footprint of around 15000 employees at 186 locations in 37 countries. In 2017, Oerlikon generated CHF 2.8 billion in sales and invested CHF 107 million in R&D.