Leoni Group sells Swiss subsidiary Leoni Studer Hard AG to Synergy Health
Wednesday, Mar 21, 2012
Adjustment of irradiation portfolio – focus on electron beam crosslinking
Nuremberg (Germany) / Däniken (Switzerland) – Leoni, the leading provider of cables and cable systems to the automotive sector and other industries, sells its Swiss subsidiary Leoni Studer Hard AG to Synergy Health, a leading global provider of outsourced sterilisation services to the medical device market and healthcare sector. The purchase price amounts to EUR 47.6 million.
The divestiture of the company, located in Däniken, Switzerland, comprises a Gamma and an X-ray sterilisation device, both providing irradiation services to the medical device, pharmaceutical and packaging industries. All of the 35 employees will also be taken over by Synergy Health. Leoni Studer Hard AG recorded revenues of about CHF 10.4 million (EUR 8.6 million) in 2011.
By selling the Swiss subsidiary, Leoni Group is adjusting its irradiation services portfolio. The Company will focus on the electron beam crosslinking technology and expand the related business in order to strengthen its leading position in this field in Europe. As a consequence, Leoni will continue operating all its crosslinking installations in Däniken and Bautzen (Germany), which are a vital part of its core cable production value-chain. These services are from now on provided by Leoni Group’s subsidiary Leoni Studer AG.
Crosslinking permits refining various materials such as cables, plastic pipes, foils and conductors by treating them with accelerated electrons. The process makes products, for example, more dimensionally stable when subjected to heat, more resistant to chemicals, solvents and temperature fluctuation as well as more resistant to abrasion.