Ad hoc announcement pursuant to Art. 53 LR
Schweiter strengthens its Core Materials business - acquisition of JMB Wind Engineering completed
- Schweiter Technologies is increasing its 40% minority holding by taking over the remaining 60% of the stock.
- The agreement to purchase the rest of the shares in JMB Wind Engineering ("JMB") has been signed and completed, further strengthening the Core Materials business of 3A Composites.
Steinhausen, 1 June 2023 - JMB) is a leading developer and producer of core material kits - primarily balsa and PET products for wind turbines. It is headquartered in Goleniów, Poland and has subsidiaries in Poland, Portugal and Brazil.
The company acquired has approximately 430 employees and achieved sales of around EUR 70 million in the 2022 business year.
Schweiter Technologies acquired a 40% share of JMB in 2021 to establish a strategic partnership with a leading European kitting company. The acquisition of the remaining holding in JMB and the successful commissioning of a new PET production line at JMB Poland in early 2023 saw 3A Composites further expand its leading global market position for balsa and PET core material solutions for the production of wind turbine rotor blades. This addition to the value chain will enable the company to offer an even better portfolio of solutions to wind customer OEMs and place itself in an ideal position to benefit further from the pending growth cycle in the wind energy industry, which is expected to last for a number of years.
For further information please contact:
Martin Klöti, CFO
Tel. +41 41 757 77 00
investor@schweiter.com
ABOUT SCHWEITER
Schweiter Technologies, with its head office in Steinhausen, Switzerland, is a globally active Group focusing on composites solutions with its division 3A Composites. The main activities include the development, production and distribution of high-quality composites, plastic sheets, foamboards and core materials based on balsa wood and PET foam. These materials are used primarily in the areas of visual communication (display), architecture, wind energy, industry, train and bus manufacturing and shipbuilding.
The company has offices, distribution facilities and production sites at 40 locations in Europe, America, and the Asia-Pacific region, and employs 4,300 people. Schweiter Technologies AG is listed on SIX Swiss Exchange with the ticker symbol SWTQ.
Please find the Media release in the PDF attached:
Media release
