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PRZOOM - /newswire/ -
Elmsford, NY, United States, 2018/06/27 - SCHOTT AG has announced plans to continue to grow its US business through focused, strategic acquisitions - SCHOTT.com.
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SCHOTT AG, a leading international specialty glass and technical ceramic materials manufacturer, based in Mainz, Germany, has announced plans to continue to grow its US business through focused, strategic acquisitions.
Following record results in 2017 which saw worldwide sales rise 3.1 percent to €2.05 billion ($2.26 billion), reflecting gains across all three-business segments: Precision Materials, Optical Industries and Home Appliances SCHOTT has ambitious plans to build on this success by further strengthening its position in North America.
Dr. Jens Schulte, Chief Financial Officer at SCHOTT AG, commented: “We have a long and successful track record integrating acquired companies. Our activities have seen acquisitions across the globe lead to high value creation and we expect the same results from further US investments.”
Companies that produce complementary glass types, composites and offer related services that would add value to the SCHOTT portfolio will be evaluated closely particularly those operating in the fields of pharma and electronic packaging, optical components and materials, lighting components and solutions and glass powder and fiber. Companies with sales up to around €150 million are targeted, and several of such deals are expected to be pursued.
SCHOTTs existing sales in North America have been particularly strong, growing by 4 percent to €420 million over the prior fiscal year, which was largely attributed to increased demand for advanced glass-ceramics such as ZERODUR® - a key component in microlithography and astronomy and high-quality glass and fibers used in the pharmaceutical, medical and life science applications. Electronics and home appliances also saw dynamic growth, which is expected to continue further with the launch of technological innovations such as the new CERAN® Miradur™ scratch-resistant cooktop.
Dr. Schulte added: “SCHOTT has invested heavily across its existing six manufacturing locations, R&D and corporate center to ensure customers have access to the very latest innovations in specialty glass and technical ceramic materials. Through new acquisitions, SCHOTT expects to further enhance its offering across a broad range of industries and products, ensuring the company continues to make a positive impact on people’s lives through its dedication to continuous growth, improvement and development.”
For further information on SCHOTTs acquisition plans, or to start a conversation with a dedicated SCHOTT corporate representative, please contact:
Media Inquiries: Bernard Guly - Finn Partners
P: +44(0)20 3217 7063 - E: benard.guly[.]finnpartners.com.
M&A Banking Inquiries: Ed Bisno - Bisno Communications
P: 212-717-7578 - E: ed.bisno[.]bisnocommunications.com.
About SCHOTT
SCHOTT (schott.com) is a leading international technology group in the areas of specialty glass and glass-ceramics. The company has more than 130 years of outstanding development, materials and technology expertise and offers a broad portfolio of high-quality products and intelligent solutions. SCHOTT is an innovative enabler for many industries, including the home appliance, pharma, electronics, optics, life sciences, automotive and aviation industries. SCHOTT strives to play an important part of everyone’s life and is committed to innovation and sustainable success. The group maintains a global presence with production sites and sales offices in 33 countries. With its workforce of approximately 15,000 employees, sales of $2.26 billion were generated in fiscal year 2016/2017.
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