Swiss industrial group Oerlikon has divested its solar segment to a supplier of semiconductor production equipment, Tokyo Electron, based in Japan. The sale is a strategic move so that Oerlikon can further develop the larger, high performing businesses in the Group, in order to continue profitable growth.
Dr Michael Buscher, CEO of Oerlikon Group, said, "This divestment is an important part of our strategy to streamline and balance the Group portfolio. TEL is an ideal strategic buyer for our solar business. Its main operations are close to the predominantly Asian customer base and having had a partnership with them for three years, they know our Solar Segment well.
The sale will give us the opportunity to focus on our high performing businesses, where we have critical mass, strong market positions and the potential to grow even further with increased profitability. We are convinced that this step is also the best solution for our employees as TEL is a strategic buyer aiming to develop a core solar business."
The sale remains subject to merger control approvals in a number of countries. It is expected to be concluded over a period of several months.
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