Business

2013-09-25

Oerlikon bids for Sulzer Metco

Pursuant to art. 53 et seq. of the Listing Rules of the SIX Swiss Exchange OC Oerlikon confirms its participation in the auction process relating to the sale by Sulzer Ltd of its Metco division. OC Oerlikon has in place clear related-party-transaction policies including a committee, consisting of independent directors, to ensure a due process on the part of OC Oerlikon.

In July 2013 the Swiss pump maker Sulzer announced that it is examing a sale of its Metco coatings division to focus on ist core markets oil and gas, power and water.

Also in July Oerlikon closed the deal selling its natural fiber segment of textile divison "Saurer" to the Chinese Jinsheng Group.

In August Bloomberg reported that aucion for Sulzer Metco will start in September and conjectured that Oerlikon, Praxair of the U.S. and Japan’s IHI may consider bids and private-equity firms also will show interest.

Now Oerlikon has confirmed its interest.

Patrick Laager, an analyst at Credit Suisse, had formerly written in an e-mail to investors that Switzerland-based Oerlikon is looking to expand with coating deals to strengthen its existing segment coating which is the world’s leading supplier of PVD coatings for tools and precision components. Furthermore of interest: Oerlikon's largest shareholder Viktor Vekselberg is also the biggest investor in Sulzer.

Sulzer Metco could be an interesting Investment. The company is a leading surface solutions provider with a global presence and is focused on supporting their customers with specialized components and innovative surface engineering products and services, using advanced coating and surface enhancement technologies.

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