Conzzeta sells Automation Systems business unit

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Zurich, July 21, 2014 - Conzzeta AG is selling its automation business ixmation to BBS Automation GmbH. The executive boards of both companies signed a corresponding agreement on Friday (July 18). Through the sale, Conzzeta AG is divesting itself of a business unit that had incurred losses in the past. BBS Automation has many years' experience with complex automation projects and ixmation represents an expansion of its international network.

BBS will take over ixmation in its entirety, integrating the plants in the USA, Malaysia and China and the sales location in Switzerland into its own group. All the employees and current customer orders are being transferred as part of the acquisition. BBS chief executive Josef Wildgruber considers the internationally oriented ixmation automation business an excellent match with BBS, which previously focused largely on Europe: "Through this transition and the integration of ixmation into the BBS Group, we will increase our potential in many ways. We are very familiar with the special requirements of the production automation market. Our know-how and diverse experience in this market enable us to bring the most complex projects to a successful conclusion."

At the end of 2013 ixmation had a worldwide workforce of 359, which generated revenues of CHF 41.8 million, representing 3.5 percent of Conzzeta Group revenue. "To prevail in the competitive automation market with a company of this size is a huge challenge," explains Robert Suter, CEO of Conzzeta AG. "But the new group, uniting BBS and ixmation, meets the requirements to succeed in this market."

The parties have agreed not to reveal the purchase price. Depending on the outcome of the due diligence process, Conzzeta reckons with a one-time negative impact on the Group consolidated financial statement in the region of CHF 25 million. The transfer takes effect retroactively on July 1, 2014.

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Conzzeta Group is an internationally active Swiss holding company with approximately 3500 employees worldwide. Its activities are in the areas of machinery and systems engineering, foam materials, sporting goods, graphic coatings and real estate. Conzzeta's shares are listed on the SIX Swiss Exchange (SWX:CZH).

The Media Release can be downloaded from the following link:

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Conzzeta AG
Giesshübelstrasse 45 Zürich Switzerland

WKN: 265798;ISIN: CH0002657986;