Streamlining of the business portfolio
Sale of the Glass Processing segment completed
Zurich, April 1, 2019 - Conzzeta has reported that it has completed the sale of the Glass Processing segment to the finnish Glaston Corporation, which was announced on January 25, 2019. The change of control will take place on April 1, 2019, with the corresponding deconsolidation. Dr. Burghard Schneider will leave the Conzzeta Executive Committee.
According to Michael Willome, Conzzeta Group CEO: "The improvement in operating performance in the Glass Processing segment over the last years deserves the highest accolades. We would like to thank Dr. Burghard Schneider, his management team and all the employees for their successful work and wish them every success for the future."
In 2018, the Glass Processing segment contributed CHF 133.3 million or 7.5% to Conzzeta's Group revenue. With the conclusion of the transaction, Conzzeta expects a substantial divestment gain for the first half of 2019.
Further information can be found at www.conzzeta.com.
Annual Report online: report.conzzeta.com.
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; email@example.com
Conzzeta is a broadly diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. Conzzeta strives for leading positions in its target markets, above-average growth and long-term value creation. Over 5,200 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials, Graphic Coatings, Outdoor and Glass Processing segments. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).