Zurich, September 1, 2017 – Conzzeta announces the closing of the agreement to acquire Otto Bock Kunststoff. Following the announcement on July 21, 2017, Conzzeta assumed full control as per September 1, 2017, with corresponding first-time consolidation.
The transaction reflects Conzzeta’s defined growth strategy. It adds significant global scale to its FoamPartner business unit, with additional growth opportunities, particularly in Asia and North America. The product portfolios of Otto Bock Kunststoff and FoamPartner are largely complementary and combine to form a global leader in polyurethane-based foam materials for modern mobility solutions. The transaction also enhances the capabilities and offerings within FoamPartner’s Specialties and Living & Care market segments.
For further information please contact:
Michael Stäheli, Head Investor Relations & Corporate Communications
Phone +41 44 468 24 84
Conzzeta is a broadly diversivied Swiss group of companies. It stands for innovation, reliability and a long-term perspective. Conzzeta strives for leading positions in its target markets, above-average growth and long-term value creation. Over 4000 employees at more than 60 locations worldwide are dedicated to offering customers innovative solutions in Sheet Metal Processing, Sporting Goods, Foam Materials, Graphic Coatings and Glass Processing. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).
Zurich, August 11, 2017 – In the first half of 2017, the Conzzeta Group generated net revenue of CHF 625.9 million, up 19.3% year on year, with order intake remaining strong. The operating result increased by 46.5% to CHF 38.3 million, with an EBIT margin of 5.8% (previous year: 4.8%). The Group result amounted to CHF 30.0 million, a rise of 44.0% on the previous year's level.keyboard_arrow_right
Zurich, August 11, 2017 – Conzzeta announces the sale of its 51% stake in the US joint venture Woodbridge FoamPartner Company, Chattanooga (TN, USA) and the signing of a supply contract with The Woodbridge Group. This move will simplify access to the North American market for the FoamPartner business unit.keyboard_arrow_right
Zurich, July 21, 2017 – Conzzeta announces the signing of a binding agreement for full acquisition of Otto Bock Kunststoff. Completion of the deal is expected in the second half of 2017, subject to regulatory approval.keyboard_arrow_right