OC Oerlikon
| OC Oerlikon Corporation AG
|
|
|---|---|
 |
|
| legal form | Corporation |
| ISIN | CH0000816824 |
| founding | 1993 |
| Seat |
Freienbach , Switzerland
|
| management | Roland Fischer ( Managing Director ) Michael Süß ( Chairman of the Board of Directors ) |
| Number of employees | 10,727 (2018) |
| sales | 2.609 billion CHF (2018) |
| Branch | Plant construction |
| Website | www.oerlikon.com |
OC Oerlikon ( Corporate Identity - conform œrlikon , named after the place of origin Oerlikon ) is a listed industrial group based in Freienbach , in the Pfäffikon SZ district in Switzerland .
The company goes back to the machine tool factory Oerlikon , founded in 1906 , from which the Oerlikon-Bührle Holding emerged in 1973, which was renamed Unaxis at the beginning of 2000 after extensive restructuring . In 2005 the Austrian Victory Industriebeteiligung acquired the majority of shares in Unaxis and initiated a further restructuring of the company, which was brought to bear by the change of name to OC Oerlikon at the beginning of September 2006. At the end of 2006 the Saurer Group was taken over and integrated into the group; from 2006 the Russian investor Victor Vekselberg gradually built up a stake to 41% of the capital today. Today the position is held by Liwet Holding AG.
Companies
structure
OC Oerlikon currently comprises two segments:
- Surface Solutions segment ( Oerlikon Balzers / Oerlikon Metco / Oerlikon AM)
- Manmade Fibers segment (Oerlikon Barmag / Oerlikon Neumag / Oerlikon Nonwoven)
The sub-divisions of the Oerlikon Components division that were not identified as part of the core business were sold in the course of 2009: Oerlikon Esec ( semiconductor technology ) was sold to the Dutch company BE Semiconductor Industries (Besi) in April 2009 . In June 2009, Oerlikon Space ( space technology ) was sold to RUAG Holding . The last company of the subregion Oerlikon Optics ( Optics ) in mid-August 2009, Oerlikon Optics Shanghai to the British EIS Optics sold, a start-up of two London private equity firm Nova Capital Management Limited and FF & P Private Equity Limited. The Oerlikon Components division has been operating under the name Oerlikon Advanced Technologies ever since .
On March 2, 2012, Tokyo Electron signed a purchase agreement for the Oerlikon Solar division. Oerlikon Solar is headquartered in Trübbach (Switzerland) and employs 675 people at 8 locations worldwide. Tokyo Electron Limited is one of the world's leading providers of equipment for semiconductor production and is active in the development, manufacture and sale of a wide range of product areas. The sale of the Solar segment was completed on November 27, 2012.
On December 3, 2012, it was announced that Oerlikon was selling the Natural Fibers and Textile Components business units from the Textile segment to the Chinese Jinsheng Group. The Textile segment will therefore concentrate on the man-made fiber business in the future. The sale of the natural fiber business was completed on July 4, 2013.
On June 2, 2014, Oerlikon acquired Metco from Sulzer AG. Metco was merged with the previous Coating segment. This created a global provider of surface solutions. The segment now called Surface Solutions is currently the largest segment in the group.
On December 23, 2014, Oerlikon announced the agreement to sell the Advanced Technologies segment to the Swiss company Evatec AG. The sale was completed earlier than planned and the 200 employees and all assets in the segment were successfully transferred to Evatec on February 3, 2015.
In July 2016, Oerlikon announced that all approvals for a strategic sale of the vacuum business to Atlas Copco had been obtained. The transaction closed on August 31, 2016.
In July 2018, Oerlikon announced that it had signed a definitive agreement to sell the Drive Systems segment to Dana Inc. The transaction closed on February 28, 2019.
Ownership
The ownership structure of OC Oerlikon is subject to constant changes , among other things due to large option transactions. With the recapitalization, the shareholder structure has changed again. According to the information in the 2018 Annual Report, it is as follows:
| Shares share | owner | annotation |
|---|---|---|
| 41.34% | Liwet Holding AG | |
| 0.28% | OC Oerlikon | |
| 58.38% | Free float |
Board of Directors
The oversight and strategic management of the company takes the Directors true. Michael Süß was elected Chairman of the Board of Directors at the 42nd Annual General Meeting of Oerlikon . The Board of Directors of OC Oerlikon is composed as follows:
- Michael Süß , President and Member of the Board of Directors
- Gerhard Pegam, Vice President and Member of the Board of Directors
- Irina Matveeva, member of the Board of Directors
- Alexey Moskov, member of the Board of Directors
- Geoffery Merszei, member of the board of directors
- Suzanne Thoma, member of the board of directors
- Paul Adams, member of the Board of Directors
Although Michael Süss, Alexey Moskov and Irina Matveeva represent the interests of Liwet AG, all seven members of the Board of Directors are independent within the meaning of the Swiss Code of Best Practice for Corporate Governance.
Group management
In May 2004 Thomas Limberger was elected to the Board of Directors and in June 2005 - at the request of Victory Industriebeteiligung, as the majority shareholder - was elected CEO of the then Unaxis. Under Limberger, the group management was enlarged in February 2007 to include the functions of “General Counsel”, occupied by Bjoern Bajan, and COO, occupied by Uwe Krüger. Limberger remained with the company until May 2007, when he stepped down as CEO and member of the Board of Directors and then moved to Von Roll Holding.
With Limberger's resignation, Uwe Krüger was elected to the position of CEO, whose previous position as COO was only filled again in September 2008 by Thomas Babacan. During the presentation of the half-year results on August 25, 2009, it was announced that Uwe Krüger is leaving the company with immediate effect. The position as CEO was temporarily filled by Hans Ziegler, who had been a member of the Board of Directors since May 2008.
In May 2010 Michael Buscher took up his position as CEO of the company and replaced Hans Ziegler as interim CEO. In March 2013, CEO Michael Buscher left the company. CFO Jürg Fedier then took over the post of CEO on an interim basis. At that time, he was the only member of the Executive Committee. He handed over the role of CEO to Brice Koch in January 2014 and took up his position as CFO again. On March 1, 2016, the group management announced in a press release that Roland Fischer had been appointed Chief Executive Officer (CEO) with immediate effect and thanked the outgoing Brice Koch for his services as CEO.
The OC Oerlikon Executive Committee is composed as follows
- Roland Fischer, CEO
- Jürg Fedier, CFO
- Anna Ryzhova, Chief Human Resources Officer
- Helmut Rudigier, Chief Technology Officer CTO
history
Oerlikon-Bührle
Main article: History of the Oerlikon machine tool factory and the Oerlikon-Bührle (1906–1999)
The basis of OC Oerlikon was the creation of Oerlikon-Bührle Holding AG in 1973, which reached its zenith in 1980 with 37,000 employees. At the beginning of the 1980s, the group already had the space division (founded in 1964 within Contraves AG) and the thin-film / vacuum technology division (since 1976, through the takeover of Balzers AG). In 1991, failures forced the group to concentrate on individual divisions, with the decision being made to convert it into a technology group. The concentration was driven by the takeover of the Leybold Group, active in vacuum technology, in 1994, which was merged with Balzers to form Balzers & Leybold , the leading company for thin-film technology, the future core business of Oerlikon-Bührle.
The biggest turning point followed in 1999 with the sale of various core businesses and practically all of the stakes in other companies that no longer fit the new business concept. The armaments division Oerlikon Contraves Defense was sold to the German Rheinmetall DeTec and operates today as Rheinmetall Air Defense AG . The Rheinmetall Air Defense AG real estate was sold to the Allreal Holding sold and subsequently traded as Allreal Generalunternehmung AG . The shoe and accessories manufacturer Bally was sold to the American Texas Pacific Group . In January 2000, the name was finally changed from Oerlikon-Bührle to Unaxis .
Unaxis
In the middle of 2000 Unaxis acquired the majority of shares in the semiconductor manufacturer Esec AG . Towards the end of the year, Pilatus Flugzeugwerke AG was sold or became an independent company , as the last company that did not fit into Unaxis' technology portfolio. In December 2001, Unaxis parted ways with Leybold Optics again , however, while retaining the vacuum technology division.
At the beginning of 2004, Unaxis was restructured and the group was divided into five business areas: Semiconductor Equipment , Data Storage Solutions , Coating Services (coating technology), Vacuum Solutions (vacuum solutions) and Components and Special Systems (components and special systems) structured. In March 2004, Esec was fully taken over by merging with Unaxis. The poor development of the semiconductor division of the former Esec resulted in a loss of 372 million francs and a fall in the share price in the 2004 financial year. The Esec division was finally sold again in April 2009.
In June 2005 the new Unaxis majority shareholder, the Austrian Victory Industriebeteiligung AG, convened an extraordinary general meeting at which practically the entire company management was replaced. Thomas Limberger became the new CEO of Unaxis. Under the new management, the loss could be massively reduced in the 2005 financial year, and the intention was to move away from the abstract company name Unaxis and revive one of the originally well-established company names.
In 2006, the Russian oligarch Viktor Vekselberg acquired a notable stake in the company. In May 2006 the General Assembly approved the proposal to make the former place of origin of the WO - Oerlikon - part of the name again. The multiple interpretations of the abbreviation OC immediately called on Rheinmetall, whose subsidiary Oerlikon Contraves has the same abbreviation. The renaming from Unaxis to Oerlikon - formally OC Oerlikon Corporation AG - took place at the beginning of September 2006.
Name disputes
Due to various objections from Rheinmetall and its subsidiaries, the renaming of Unaxis was delayed. When Oerlikon Contraves was sold in 1999, what was then Oerlikon-Bührle secured the right to continue to use the protected name Contraves (for example in Contraves Space). On the other hand, no agreements were made about the term Oerlikon, as it is the name of a former municipality and, since 1934, a district of Zurich. Accordingly, the name is used several dozen times by various companies. Because of this initial situation, the company "Oerlikon" is legally known as OC Oerlikon Corporation and has only had the new Oerlikon logo protected as a word / picture mark. The name Unaxis-Oerlikon has been circulating in the media since the beginning of September; OC Oerlikon Corporation AG , which was not yet operational, was successfully entered in the commercial register (March 2006) and Unaxis Management AG was renamed OC Oerlikon Management AG (May 2006).
In the 3rd quarter of 2006 all pending questions about the name were resolved and in September 2006 Unaxis Holding AG was officially renamed by changing its name to OC Oerlikon Corporation AG . In December, Unaxis Schweiz AG (formerly Esec SA) was renamed Oerlikon Assembly Equipment AG.
Saurer takeover
The attempt by the investment company Laxey to change the management of the textile machine manufacturer Saurer AG at an extraordinary general meeting failed in the run-up due to the negative media coverage on the one hand and, surprisingly, the interference of Victory and the a few days old OC Oerlikon. Oerlikon is taking over the entire block of shares from Laxey, and due to the majority of shares, the mandatory takeover offer to the other Saurer shareholders is ongoing.
Restructuring and recapitalization
In 2008 and 2009, the group was hit hard by the recession that followed the global financial and economic crisis. The decline in demand and sales was particularly significant in the textile segment, but also in the other segments. In order to carry out a comprehensive restructuring, Hans Ziegler was appointed ad interim CEO to the top of the group. According to the 2009 annual report, over 2,500 employees were laid off in 2009 and a further 1,100 left the group through company sales. In addition, a comprehensive restructuring of the group's finances was necessary. After lengthy negotiations, an agreement was reached with the main shareholder Renova and the lending banks, which was approved by the shareholders at the general meeting on May 18, 2010.
The cornerstones of the recapitalization were a reduction in the share capital by reducing the nominal value from CHF 20 to CHF 1 and a subsequent capital increase with subscription rights and the issuing of options for shareholders. The group was also released from debts of CHF 125 million. An old credit facility was replaced by a new contract consisting of three tranches totaling 1.48 billion CHF. As a result of the recapitalization, debts were reduced by CHF 998 million and the group received CHF 276 million in cash.
Company transformation through acquisitions and sales
On November 22, 2011, the group reorganized its largest and most important business area, Oerlikon Textile. The previous five business units will be combined in the three business units Manmade Fibers (formerly Oerlikon Barmag and Oerlikon Neumag), Natural Fibers (formerly Oerlikon Schlafhorst and Oerlikon Saurer) and Textile Components (formerly Oerlikon Textile Components).
In the course of this reorganization, the top management of the division will gradually be relocated to Shanghai and thus to the most important textile market in the world. Clement Woon from Singapore is the new CEO of the division.
On December 3, 2012, it was announced that Oerlikon was selling the Natural Fibers and Textile Components business units from the Textile segment to the Chinese Jinsheng Group. The sale of the natural fiber business was completed on July 4, 2013. In the field of textile machine construction, the group wants to concentrate on production systems for man-made fibers in the future. At the beginning of 2014, OC Oerlikon decided to take over Sulzer Metco from Sulzer AG . On November 20, 2015, OC Oerlikon announced the intended sale of the Oerlikon Leybold Vacuum division to Atlas Copco . The transaction closed on August 31, 2016.
In July 2018, Oerlikon announced that it had signed a definitive agreement to sell the Drive Systems segment to Dana Inc. The transaction closed on February 28, 2019.
Web links
Individual evidence
- ↑ Entry of OC Oerlikon Corporation AG in the commercial register of Canton Schwyz ( Memento of September 27, 2007 in the Internet Archive )
- ↑ oerlikon.com: Key figures
- ↑ oerlikon.com: Annual report
- ^ SIX Swiss Exchange: Significant Shareholders
- ↑ OC Oerlikon organizational structureː segments
- ↑ www.oerlikon.com
- ↑ Press release of July 4, 2013
- ↑ Article from January 31, 2014
- ↑ Press release of July 30, 2018
- ↑ Press release of March 1, 2019
- ↑ Oerlikon Annual Report 2018
- ↑ Press release of April 9, 2019
- ↑ Oerlikon: Irina Matveeva represents Liwet-Holding on the board of directors. In: finanznachrichten.de. March 3, 2020, accessed April 9, 2020 .
- ↑ nzz.ch
- ↑ Brice Koch becomes CEO of OC Oerlikon , Neue Zürcher Zeitung of November 1, 2013, last accessed on June 23, 2014.
- ↑ Press release Roland Fischer becomes CEO on March 1, 2016, last accessed on March 1, 2016
- ↑ Half-yearly report Oerlikon 2010 ( Memento of the original dated September 2, 2014 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Press release of November 22, 2011
- ↑ OC Oerlikon takes over Sulzer Metco
- ↑ Press release Atlas Copco signs a purchase intention for Oerlikon Leybold Vacuum
- ↑ Press release of July 30, 2018
- ↑ Press release of March 1, 2019
