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AUT - Plansee Group takes over majority in Ceratizit Group

Plansee previously held a 50 percent stake, now the company is taking over the majority. The parties agreed not to disclose the extent of the shares and financial details.

The globally active high-performance materials manufacturer Plansee, based in Breitenwang in Tyrol, takes over the majority of Ceratizit S.A. on March 1st. The Plansee Group had previously held a 50 percent stake, the company announced in a broadcast on Wednesday. The parties have agreed not to disclose the extent of the shares taken over and the financial details.

The Luxembourg company Ceratizit specializes in the manufacture of tools made of hard metal. "We want to continue the Ceratizit success story - as the majority owner even faster and more sustainably," said Karlheinz Wex, Spokesman of the Board of Management of Plansee. The transaction is the largest in the company's history and is subject to the approval of the antitrust authorities.

The remaining shares can be acquired in the coming years
In addition, Plansee holds options to acquire the remaining shares in Ceratizit within the next few years. "Our goal is to create a fully integrated group of companies for the production and processing of the materials molybdenum and tungsten," said Wex.

Ceratizit was created in 2002 after the merger of the Austrian company Plansee Tizit with the Luxembourg company Cerametal. The Plansee Group held a 50 percent share in the joint venture. According to Plansee, Ceratizit has tripled its sales since the merger.

The Plansee Group achieved consolidated sales of EUR 1.38 billion in the 2019/20 financial year. Sales of 2.9 billion euros were achieved in the Plansee Group's portfolio (all investments with more than 20 percent combined). The fiscal year ends on the last day of February. According to its own information, the company employs 7606 people. (APA)

Source: Tiroler Tageszeitung, tt.com


 

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