SCHOTT Focuses Acquisition Plans On Dynamic US Market
SCHOTT AG, a specialty glass and technical ceramic materials manufacturer 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 percent to â‚¬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.
Dr. Jens Schulte, Chief Financial Officer at SCHOTT AG, commented: "We have a long and successful track record integrating acquired companies. 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 â‚¬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 percent to â‚¬420 million over the prior fiscal year, which was largely attributed to increased demand for advanced glass-ceramics such as ZERODURÂ® - a key 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 CERANÂ® Miradur™ scratch-resistant cooktop.
Dr. Schulte added: "SCHOTT has invested heavily across its existing seven manufacturing locations, R&D center and corporate office to ensure customers have access to the very latest innovations in specialty glass and technical ceramic materials. Through new acquisitions, SCHOTT expects to further enhance its offering across a broad range of industries and products, ensuring the company continues to make a positive impact on people's lives through its dedication to continuous growth, improvement and development."