Increase of participation from 51% to 70%
Conzzeta acquires additional stake in DNE Laser
Zurich, August 27, 2019 - As part of the growth strategy in the Sheet Metal Processing segment, Conzzeta announces the signing of an equity transfer agreement to increase its participation in DNE Laser, Shenzhen, China, from 51% to 70%.
The acquisition of the additional stake of 19% is consistent with the purchase agreement signed in March 2016 for the initial participation of 51%, which included the option to increase the participation. Conzzeta has decided to exercise the option after the strong profitable growth of DNE Laser since 2016. DNE laser contributed in 2018 net revenue of CHF 145 million to the Bystronic sheet metal processing business of Conzzeta.
According to Alex Waser, CEO of Bystronic and EC Member of Conzzeta: "Over the last years, we developed a highly successful collaboration between Bystronic and DNE Laser, beyond our expectations at the time. By strengthening our ties, we aim to enhance our competitive position in the important Chinese market and beyond. Together, we will accelerate the development of a global platform strategy to the benefit of our clients. "
According to Zhang Yonghong, founder and CEO of DNE Laser: "I'm excited to start our next journey with passion and ambition. We seek to realize the full potential of our collaboration as we continuously develop our products, services and organizations to meet the evolving needs of clients, both existing and potential. We also aim to build the international business of DNE Laser to write the next chapter of our success story. "
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 5,000 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials, Graphic Coatings and Outdoor segments. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).