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Datwyler to focus on fast-growing, high-margin Sealing Business

  • Focus on the fast-growing, high-margin Sealing business.
  • Divesting Distrelec and Nedis at a loss of some CHF 670 million with no impact on liquidity.
  • Datwyler is evaluating value-optimising options for the sale of Reichelt.

In future, the Datwyler Group will focus on the fast-growing, high-margin Sealing business for attractive global markets and will divest the two distribution companies Distrelec and Nedis. Based on recognised core competencies, Datwyler has become a valued development partner for high-quality, system-critical sealing components in the Health Care and Automotive industries and beyond.

Divestment of Distrelec and Nedis

On 23 December 2019, the Datwyler Group signed a contract with German firm Aurelius for the sale of all entities of the daughter companies Distrelec and Nedis. As distributors of electronic components, Distrelec and Nedis generated sales of some CHF 300 million in 2018 with some 850 employees. The deal is due to be concluded in the first quarter of 2020 subject to the fulfilment of the usual conditions for completion. The parties have agreed not to disclose details of the transaction. Aurelius has many years of investment and management experience and owns several distribution companies. As an active investor with a long-term investment horizon, Aurelius specialises in spin-offs from international groups. For the sale of Reichelt, Datwyler takes the time to evaluate further options to optimise value.

Liquidity and assets largely unaffected by the divestment loss

The divestment of Distrelec and Nedis will result in a loss for the Datwyler Group of some CHF 670 million, which will have no impact on liquidity. This amount comprises mainly goodwill and the realisation of the cumulative currency translation differences of the foreign companies disposed of. At over 50%, the equity ratio will still be very solid after the transaction has been concluded. Datwyler therefore has excellent financial resources for implementing the growth strategy defined.

Source: Dätwyler

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