Ad hoc announcement pursuant to Art. 53 of the SIX Listing Rules (LR)
Schweiter Technologies strengthens its architecture business
- Schweiter Technologies acquired 60% of Jiangsu ZNL Coating New Materials, a newly established joint venture.
- This acquisition is further strengthening the architecture business and creates growth opportunities in China and in the Asian markets.
Steinhausen, 21 December 2023 - Jiangsu ZNL Coating New Materials is an innovative aluminum solid sheet manufacturer delivering high-end, multi-color façade solutions. It is headquartered in Changzhou City in Jiangsu Province.
The acquired company has approximately 50 employees and will achieve net sales of around CHF 15 million in 2023. The purchase price for the 60% stake is in the mid-single CHF million range.
Schweiter Technologies has an option to acquire the remaining 40% of the shares of the company.
The acquisition is complementing the architecture business solution portfolio and supports the sustainable growth vision in China and the Asian markets.
3A Composites' architecture business is a global leader in providing high-quality aluminum composites material for building façades, roofs and Corporate Identity solutions. The global architecture business generated 19% of the group's net sales in 2022.
For further information please contact:
Schweiter Technologies
Group CFO
Urs Scheidegger
Tel. +41 41 757 77 00
investor@schweiter.com
ABOUT SCHWEITER TECHNOLOGIES
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, paper and 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 marine engineering.
The company has offices, distribution facilities and production sites at 40 locations in Europe, America, and the Asia-Pacific region, and employs 4,700 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
