NEWS
Combining strengths
Solvay and INEOS join forces to Funkwerk AG sells Microsyst Systemelectronic GmbH create world-class PVC producer F S olvay and INEOS have signed a Letter of Intent (LOI) to combine their European chlorvinyls activities in a proposed 50-50 joint venture. The combination would form a polyvinyl chloride (PVC) producer ranking among the top three worldwide. The joint venture would have pro-forma net sales of €4.3 billion and REBITDA of €257 million, based on 2012 figures. The combined business would have around 5650 employees in 9 countries and would pool each company’s assets across the entire chlorvinyls chain. This includes PVC, which is the third most-used plastic in the world, caustic soda and chlorine derivatives. RusVinyl, Solvay’s Russian joint venture in chlorvinyls with Sibur, is excluded from the transaction. “The joint venture will improve the competitiveness of its operations in a very challenging environment regarding feedstock and energy costs in Europe. We are convinced that this is
the right project to secure, for the long term, the development of Solvay’s European chlorvinyls activities, of its employees and its plants,” says Jean-Pierre Clamadieu, CEO of Solvay. Visit: www.solvay.com
Saab acquires TIKAB
support solutions. Solutions include technical publications and interactive training tools and the acquisition of TIKAB further strengthens Saab’s position in the market. “With this acquisition, we can offer new and existing customers a wider portfolio of services and a complete range of integrated support solutions. There are clear synergies between TIKAB and Saab’s operations in which we can utilise each other’s expertise to strengthen the competitiveness of our offering to achieve growth,” says Lars-Erik Wige, senior vice-president and head of business area Support and Services. Visit: www.saabgroup.com
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efence and security company Saab acquires TIKAB, a Swedish technical information provider. The acquisition expands Saab’s service portfolio and means Saab can offer a more complete range of technical services, further strengthening the company’s competitiveness as a provider of support solutions. Saab’s business area Support and Services has signed an agreement to acquire TIKAB – a company that produces and supplies technical documentation for the civilian and military market. The Support and Services business area has a strong position in the global market for integrated
Fagerhult acquires I-Valo Oy
IN
order to further strengthen the Fagerhult Group’s position in the European lighting market as well as adding a complementary product range, Fagerhult has acquired 100% of the shares of I-Valo Oy based in Iittala, Finland. I-Valo has 60 employees and manufactures lighting fixtures and solutions primarily
18 Industry Europe
for industrial applications located in very demanding conditions. Example application areas include paper & pulp, mining & minerals & metal and (bio-) energy industries. “Our strategy is to become a clear leader in the European lighting industry. With this acquisition we will strengthen our Nordic base while also gaining access to a product leader within the Industrial
unkwerk AG, Kölleda, has sold its 100% share in subsidiary Microsyst Systemelectronic GmbH (Microsyst GmbH), Weiden/Bavaria, in a management buyout to the company’s authorised signatory. The main segment of Microsyst GmbH, a manufacturer and supplier of display systems for industrial applications, is focused on large-format displays used for processes such as assembly lines in the automobile industry. Generating revenues of around €7 million with a workforce of some 40 staff in 2012, the Bavarian company also specialises in solutions for paperless order picking. Over the last two years, Funkwerk AG has implemented a comprehensive restructuring programme designed to increase its efficiency and in the process has shed several peripheral sectors which are not considered part of its core business. As a result, Funkwerk now focuses entirely on its two strategic segments Traffic & Control Communication (TCC) and Security Communication (SC). Visit: www.funkwerk.com
applications segment. We expect I-Valo to grow within its current attractive niche, but also provide a platform to grow into adjacent lighting segments that also require lighting solutions operating in very demanding conditions - such as the marine & offshore segment,” comments Johan Hjertonsson CEO Fagerhult. Visit: www.fagerhult.se
