Schaffner Group sells EMC test systems business line
Luterbach (ots)
Management buyout ensures continuity for employees and customers - Luterbach location to become a center of competence for EMC test systems development
The Schaffner Group is selling the EMC test systems business line through an MBO to a group of investors led by Johannes Schmid, the Head of the Test Systems Division. The parties have agreed not to disclose details of the price. The sale of the EMC test systems business line, which contributed some CHF 30 million to Group sales in fiscal 2004/2005, represents a decisive step in Schaffner's strategy to refocus the Group on the dynamic market for components and modules to ensure the proper functioning of electrical and electronic devices. Following the sales of the Power Electronics and EMC test systems business lines, discussions with potential buyers for the remaining Cable & ElectroEmulation business line are continuing as a matter of priority. "Just as with the previous two, we will only consider selling the last business line at a price that reflects its realistic value," stressed Fritz Gantert, President & Chief Executive Officer of the Schaffner Group.
"The sale of Schaffner's EMC test systems business line to the current management will ensure continuity and represents the optimal solution for all parties concerned, particularly employees and customers," explained Johannes Schmid, under whose leadership the business line improved its net sales by over 10% against the comparable prior-year figure in the first nine months of the current fiscal year. Schaffner's former EMC test systems activities will be brought together in a new group of companies with centers of competence for marketing, development, and production in Luterbach, Switzerland (conducted EMC), and Berlin (radio frequency), as well as distribution and service subsidiaries in China, Japan, Singapore, the USA, the UK, and France.
Schaffner - safety for electronic systems
Schaffner is the international leader in electromagnetic compatibility (EMC), focusing on high-growth sectors such as the automotive industry, building automation, industrial electronics, consumer goods, aerospace, medical technology, power supplies, telecommunications, transportation, and the public sector. Schaffner develops, produces, and markets standard and customer-specific components, modules, test systems, and test facilities. Schaffner strives to secure and expand its leading position through a program of innovation, customer-focused logistics, and cost-efficient practices.
Calendar
November 3, 2006 Publication of fourth quarter 2005/2006 net sales
and order intakeDecember 7, 2006 Publication of Annual Report 2005/2006
(presentation)January 16, 2007 Publication of first quarter 2006/2007 net sales
and order intakeJanuary 17, 2007 Annual General Meeting of Shareholders
Contact:
Fritz Gantert
President & Chief Executive Officer
Tel. +41/32/681'66'02
E-Mail: fritz.gantert@schaffner.com
Martin Zwyssig
Executive Vice President & Chief Financial Officer
Tel. +41/32/681'66'08
E-Mail: martin.zwyssig@schaffner.com
Schaffner Holding AG
CH-4542 Luterbach
Tel. +41/32/681'66'26
Fax +41/32/681'66'30
Internet: http://www.schaffner.com