FOAMPARTNER
Conzzeta to sell chemicals division containing FoamPartner and Otto Bock / Focus on sheet metal processing
Foam insert for packaging (Photo: FoamPartner)
The industrial conglomerate owned by the holding Conzzeta (Zurich / Switzerland; www.conzzeta.ch) intends to concentrate entirely on its Bystronic unit that offers solutions for sheet metal processing. The necessary funds for the associated growth strategy, which were also been announced recently, are to be generated by selling all other divisions.

Within a year, Conzzeta not only aims to sell its sportswear label Mammut, but also its Chemical Specialties division consisting of FoamPartner (Wolfhausen / Switzerland; www.foampartner.com), including Otto Bock Kunststoff (Duderstadt / Germany; www.ottobock-kunststoff.de) and the printing varnish and adhesive manufacturer Schmid Rhyner (Zurich / Switzerland; www.schmid-rhyner.ch).

Sales at Chemical Specialties have been declining in recent times and, moreover, all companies put up for sale lack the “leading global market position with critical size,” as Conzzeta CEO Michael Willome puts it. He sees “considerable margin potential” for the FoamPartner division and its 1,100 employees. However, the real reason for the planned sale is more likely to be the automotive crisis that has been weighing heavily on PU processors and will continue to do so in the foreseeable future. Conzzeta expects significant market consolidation here, as do experts from Roland Berger and investment bank Lazard in their “Global Automotive Supplier Study 2019” – see Plasteurope.com of 17.09.2019.

According to Conzzeta, Bystronic generated sales of CHF 1 bn (EUR 910m) in 2018, representing 57% of the group’s sales and 90% of its operating profit. The division concentrates on the process chain of cutting and bending sheet metal. Its portfolio includes laser cutting systems, press brakes and automation and software solutions for smart factories.
16.12.2019 Plasteurope.com [244116-0]
Published on 16.12.2019
Conzzeta: Verkauf von FoamPartner und Otto Bock geplantGerman version of this article...

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