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Conzzeta: Bystronic takes full control of DNE Laser

·2-min read

Conzzeta / Key word(s): Investment

30-Sep-2020 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Bystronic takes full control of DNE Laser
Enhanced flexibility to deploy growth strategy

Zurich, September 30, 2020 - As part of the growth strategy for its Bystronic business unit, Conzzeta announces the signing of an equity transfer agreement to increase the participation in DNE Laser, Shenzhen, China, from 70% to 100%.

With the acquisition of the remaining minority stake of 30%, Bystronic reduces complexity and paves the way to meet the evolving client needs in sheet metal processing in China and beyond.

According to Alex Waser, CEO of Bystronic and EC Member of Conzzeta: "In context of the current market situation and our ambitious growth plans, this is a good moment in time to take full control of DNE Laser. We further strengthen our ties as we aim to jointly realize our potentials, also by developing our market coverage across client groups as well as by making our product offering more complete to the benefit of our clients."

Bystronic acquired an initial participation in DNE Laser of 51% in July 2016, followed by an increase to 70% in August 2019. DNE Laser contributed in 2019 net revenue of CHF 83 million to the sheet metal processing segment revenue of Conzzeta. DNE Laser will continue to operate under its own brand and with a dedicated sales and service organization for its cost-efficient laser cutting equipment to serve entry level clients, complementing the product and solution offerings of Bystronic.

Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com

About Conzzeta
Conzzeta is a diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. About 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials and Outdoor segments. In December 2019, Conzzeta announced a strategic focus on the Sheet Metal Processing segment and the sale of all its other activities. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).


End of ad hoc announcement

Language:

English

Company:

Conzzeta

Giesshübelstrasse 45

8045 Zürich

Switzerland

Phone:

+41 44 468 24 49

Fax:

+41 44 468 24 53

E-mail:

info@conzzeta.com

Internet:

www.conzzeta.com

ISIN:

CH0244017502

Valor:

A117LR

Listed:

Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange

EQS News ID:

1137743


 

End of Announcement

EQS Group News Service

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