06.28.18
SCHOTT AG 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% 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.
“We have a long and successful track record integrating acquired companies,” said Dr. Jens Schulte, CFO at SCHOTT AG. “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.
SCHOTT’s existing sales in North America have been particularly strong, growing by 4% to €420 million over the prior fiscal year, which was largely attributed to increased demand for advanced glass-ceramics such as ZERODUR - a 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.
Following record results in 2017 – which saw worldwide sales rise 3.1% 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.
“We have a long and successful track record integrating acquired companies,” said Dr. Jens Schulte, CFO at SCHOTT AG. “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.
SCHOTT’s existing sales in North America have been particularly strong, growing by 4% to €420 million over the prior fiscal year, which was largely attributed to increased demand for advanced glass-ceramics such as ZERODUR - a 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.
