Oerlikon, Switzerland, has signed an agreement to acquire Sulzer Metco, a division of Sulzer, also of Switzerland, for approximately $1.1 billion. According to Oerlikon, a combination of Metco with Oerlikon’s existing Coating Segment will have pro-forma sales of ~$1.2 billion in 2014 and a unique global footprint with more than 110 coating centers worldwide.
“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 $9.9 billion. The two businesses are complementary in terms of their technological strengths, market access, and geographic 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 6000 people.
