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Metco acquisition makes Oerlikon coatings market leader
31
Jan '14
Oerlikon has signed an agreement to acquire Metco, a division of Sulzer, for an enterprise value of CHF 1.0 billion. A combination of Metco with Oerlikon's existing Coating Segment will form the world technology leader in Surface Solutions.

The combined business will have pro-forma sales of CHF 1.2 billion in 2012 and a unique global footprint with more than 110 coating centers worldwide. This acquisition expands Oerlikon’s presence and capabilities in a core business segment. After careful portfolio shaping, this step marks Oerlikon’s first major transaction to expand its business inorganically. On a pro-forma basis the Groups sales (full-year 2012) will increase by 24 % to CHF 3.6 billion.

“This step marks an important milestone for the Oerlikon Group, creating the technologically leading global product and service company for Surface Solutions. We are actively using our financial health and flexibility to shape a high-performing portfolio, which secures long-term profitable growth and value creation for all stakeholders in a sustainably growing industrial business close to our core”, said Oerlikon Group CEO Dr. Brice Koch.

Oerlikon Balzers is the global technology leader in the service-driven PVD (physical vapor deposition) business. Metco is the global technology leader in the thermal spray and surface applications business. The combination will expand Oerlikon’s market in Surface Solutions to some CHF 9 billion.

The two businesses are complementary in terms of their technological strengths, market access and geographical footprint, enabling them to increasingly meet customer requirements in the years to come. The combined businesses will operate some 130 facilities with over 110 coating centers in 35 countries around the world, employing around 6 000 people.

The combined businesses will form the new Surface Solutions Segment and have pro-forma sales of CHF 1.2 billion in 2012, constituting approximately 33 % of Group sales. It will be the largest Segment within the Oerlikon Group led by Dr. Hans Brändle as Segment CEO. Dr. Hans Brändle, CEO of Oerlikon Balzers said: “The combination of Balzers and Metco under one umbrella is a perfect fit of technologies, business models, R&D activities and market access for the benefit of our customers.”

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