Zurich, March 2, 2020 – Conzzeta has reported that it has completed the sale of Schmid Rhyner, which was announced on December 20, 2019. The business unit has been sold to the specialty chemicals group Altana, headquartered in Wesel, Germany.
The change of control took place on February 28, 2020, with the corresponding deconsolidation. Jakob Rohner, CEO of Schmid Rhyner, therefore leaves the Conzzeta Executive Committee.
According to Michael Willome, Conzzeta Group CEO: “The sale of Schmid Rhyner is a first concrete step towards focusing the business portfolio on Bystronic as announced. We wish the team at Schmid Rhyner every success in commercializing its innovative product portfolio under the new management of Altana.”
In 2019, Schmid Rhyner contributed 3.2% to Conzzeta’s revenue, or 14.3% to the revenue of the Chemical Specialties segment. The transaction will result in a substantial divestment gain for the first half of 2020.
Zurich, March 26, 2020 – The annual general meeting of Conzzeta AG on 22 April 2020 will be held without the physical attendance of shareholders in accordance with the Federal Council Ordinance on Measures to Combat the Coronavirus.keyboard_arrow_right
Zurich, March 17, 2020 – In a challenging environment, Conzzeta in 2019 was able to increase its EBIT margin by 50 basis points to 8.7%, adjusted for the capital gain of CHF 29.9 million from the sale of the Glass Processing segment. At constant exchange rates and adjusted for changes in the scope of consolidation, net revenue declined by 4.9% primarily due to market factors, while the corresponding operating result was maintained.keyboard_arrow_right
Zurich, February 5, 2020 – The Conzzeta Group posted net revenue of CHF 1,573.2 million in 2019. Based on stable exchange rates and adjusted for changes in the scope of consolidation, net revenue was 4.9% lower than the previous year. On the same basis, order intake in the Sheet Metal Processing segment slipped by 6.5% (7.3% reported).keyboard_arrow_right