News Article
ESEC sale finalised
Oerlikon announces all assets of ESEC now with BESI
Oerlikon closed the sale of its former business unit Oerlikon Esec. All shares, certain assets and affiliates related thereto which comprise the Esec business unit have been transferred to the buyer, Dutch company BE Semiconductor Industries N.V. (Besi). Besi transferred 2.8 million of its ordinary shares held in treasury to Oerlikon as consideration for the acquisition.
OC Oerlikon group and Besi (Euronext: BESI) announced on January 26 this year an agreement to sell Oerlikon Esec. Yesterday, both companies finalized the transaction according to plan. Oerlikon CEO Dr. Uwe Krüger said: "The successful completion of this divestiture marks an important milestone for Oerlikon in streamlining its portfolio around the core competencies in applications for thin film and coating. The smooth integration of Besi and Esec with its outstanding products and technologies will further improve the joined company's competitiveness in the future."
With this move, Oerlikon's exposure to the cyclical semiconductor market declines to a low single digit percent of sales. In commenting on the transaction, Richard W. Blickman, President and CEO of Besi explained: "The purchase of Esec is a complementary product acquisition that fits well with our goal of becoming the world's leading assembly equipment company. In combination with our Datacon product portfolio, the addition of Esec significantly expands our share of the die bonding system market, one of the most rapidly growing segments of the assembly equipment business."
OC Oerlikon group and Besi (Euronext: BESI) announced on January 26 this year an agreement to sell Oerlikon Esec. Yesterday, both companies finalized the transaction according to plan. Oerlikon CEO Dr. Uwe Krüger said: "The successful completion of this divestiture marks an important milestone for Oerlikon in streamlining its portfolio around the core competencies in applications for thin film and coating. The smooth integration of Besi and Esec with its outstanding products and technologies will further improve the joined company's competitiveness in the future."
With this move, Oerlikon's exposure to the cyclical semiconductor market declines to a low single digit percent of sales. In commenting on the transaction, Richard W. Blickman, President and CEO of Besi explained: "The purchase of Esec is a complementary product acquisition that fits well with our goal of becoming the world's leading assembly equipment company. In combination with our Datacon product portfolio, the addition of Esec significantly expands our share of the die bonding system market, one of the most rapidly growing segments of the assembly equipment business."