Business

Oerlikon: Successful closing of sale process of Advanced Technologies Segment

Further focusing the portfolio on growth businesses

Oerlikon has successfully closed the sale of its Advanced Technologies segment to the Swiss-based company, Evatec AG. The agreement to divest the Advanced Technologies Segment was announced on December 23, 2014. The divestment has been closed ahead of schedule and the Segment’s 200 employees as well as all its assets have been successfully transferred to Evatec.

According to Oerlikon CEO Dr. Brice Koch, “The transaction marks the eleventh step Oerlikon has taken since 2010 in strategically developing its portfolio, focusing on attractive growth markets, core competencies and key technologies. Systematically building a more balanced portfolio allows us to concentrate on businesses of critical size and reduces the impact of individual markets cyclicality and volatility. I would like to thank all the parties that worked effectively together to ensure a smooth closing.”

Oerlikon will report the Advanced Technologies Segment under “Discontinued Operations” in the full-year 2014 and 2015 accounts.