EANS-News: Pfeiffer Vacuum Technology AG
Pfeiffer Vacuum Technology AG intends
to acquire Alcatel-Lucent´s Vacuum Technology Unit "Adixen"
Aßlar (euro adhoc) -
On the road to becoming a world leader in vacuum
2011
sales revenues of more than 500 million anticipated based onstrong business performance
Strategic complement in backing
pumps and improved access to Asian marketsCorporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
Company Information/Mergers & Acquisitions
Subtitle: On the road to becoming a world leader in vacuum 2011 sales revenues of more than 500 million anticipated based on strong business performance Strategic complement in backing pumps and improved access to Asian markets
NOT FOR RELEASE; PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR TO U.S. PERSONS
Asslar, Germany, November 3, 2010. Pfeiffer Vacuum Technology AG,
Asslar, intends to acquire Alcatel-Lucent´s Vacuum Technology Unit
("Adixen") which is headquartered in Annecy, France. Negotiations on
the purchase of the companies, patents and licenses belonging to this
unit have been largely finalized.Manfred Bender, Chief Executive Officer of Pfeiffer Vacuum Technology AG, comments on the envisaged acquisition: "With this move, Pfeiffer Vacuum is now entering a new dimension of business. We will not only double our sales revenues, but also significantly increase our market presence. We have always said we want to enhance our position in backing pumps, and we believe that the Adixen product portfolio is the perfect fit for us. In addition, we will expand our international sales and service network and, in particular, gain better overall access to the high-growth Asian markets." Bender adds: "We at Pfeiffer Vacuum are dedicated to creating and enhancing value for our shareholders. Based on the current strong business performance we expect to generate sales revenues of more than EUR 500 million in the fiscal year 2011.The financial results we announced this morning demonstrate that we were able to return our EBIT margin to normal, even during the first year of the Trinos integration. And we are going to show the same strict discipline in connection with the Adixen integration."
Jean-Yves Guegan, President of Adixen, notes: "The combination of Adixen and Pfeiffer Vacuum, two leaders in pumping solutions and leak detection systems, will create a powerful force in the industry. Our portfolio and talent meshes quite well with that of Pfeiffer Vacuum and will create a platform to better serve both companies´ existing customers as well as drive growth in overall market share."
Alcatel-Lucent´s Vacuum Technology Unit, which does business under the Adixen brand name, is an acknowledged world leader in vacuum pumps and leak detectors with a top market position in the field of backing pumps. In fiscal year 2009, the Adixen unit generated sales revenues of EUR 134 million and a negative EBITDA of EUR 3 million which was largely attributable to the general economic crisis. The interim financial statements for the Adixen unit for the period ended June 30, 2010, record sales revenues of EUR 116 million and an EBITDA of EUR 14 million. On the basis of these numbers, sales revenues of approximately EUR 270 million and an EBITDA of approximately EUR 40 million are anticipated for the entire fiscal year 2010.
The purchase price for this unit will total approximately EUR 200 million on a debt/cash-free basis and will be fully financed through a bank loan. Pfeiffer Vacuum intends to reduce a portion of the acquisition financing by selling treasury shares and through a capital increase from authorized capital in the amount of up to 10 percent of its share capital. The supervisory board of Pfeiffer Vacuum consented to the acquisition today. Prior to the signing of the contract, a hearing of employee councils of the Alcatel-Lucent group is required. The acquisition is planned to become effective on December 31, 2010.
Hauck & Aufhäuser Investment Banking and Wagram Corporate Finance acted together as sole financial advisors to Pfeiffer Vacuum on this transaction.
About Pfeiffer Vacuum Pfeiffer Vacuum (Stock Exchange Symbol PFV, ISIN DE0006916604) is one of the world´s leading providers of vacuum solutions. Among a full range of hybrid- and magnetically levitated turbopumps, the portfolio comprises of backing pumps, measurement and analysis devices, components, vacuum chambers and systems. Ever since the invention of the turbomolecular pump by Pfeiffer Vacuum, the company has stood for innovative solutions and high-technology products that are used in the analytical segment, in research and development, environmental technology, chemistry, semiconductor production and coating technology, as well as in the automotive industry and any number of further sectors. Founded in 1890, Pfeiffer Vacuum is today active throughout the world together with a workforce of some 900 people as well as 14 subsidiaries and over 20 agencies. Further information is available at www.pfeiffer-vacuum.com.
Disclaimer: This release does not constitute an offer of securities
for sale, a solicitation of an offer to purchase or to subscribe for
securities of Pfeiffer Vacuum Technologies AG ("Pfeiffer Vacuum").
Neither this release nor anything contained herein shall form the
basis of, or be relied on, in connection with, any offer or
commitment whatsoever.This information is not for release, publication or distribution in or into the United States of America and may not be distributed to U.S. persons (as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act")). In particular, this information does not constitute an offer of securities for sale, a solicitation of an offer to purchase or to subscribe for securities of Pfeiffer Vacuum in the United States. The securities of Pfeiffer Vacuum may not be offered, sold or delivered in the United States or to or for the account or benefit of U.S. persons, unless registered under the Securities Act or pursuant to an exemption from such registration. The securities will not be registered under the Securities Act. There will be no public offer of securities of Pfeiffer Vacuum in the United States.
end of announcement euro adhoc
Further inquiry note:
Brigitte Looß
Leiterin Investor Relations
Tel.: +49 (6441) 802-346
E-Mail: Brigitte.Loos[at]pfeiffer-vacuum.de
Branche: Machine Manufacturing
ISIN: DE0006916604
WKN: 691660
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