Production joint venture between SIMONA and Georg Fischer
Simona AG, Kirn (Rhineland-Palatinate, Germany) and Georg Fischer, Schaffhausen (Switzerland), are to found a 50:50 production joint venture for the manufacture of pipes and moulded components made of fluoroplastics. For SIMONA and Georg Fischer this strategic step represents a long-term strengthening of the companies' already highly successful activities with regard to industrial piping systems made of fluoroplastics. Georg Fischer has held a stake of roughly 15 per cent in SIMONA AG for some time.
The aim of this joint venture is to concentrate production of high purity pipes and moulded components. The manufacturing joint venture will be based at SIMONA's existing production unit in the German town of Ettenheim (Baden-Württemberg) and will start operations as an independent company on July 1st, 2002; subject to the approval by antitrust authorities.
SIMONA will thus discontinue its own marketing and sales activities for pureplus® piping components used for cleanroom applications and will focus on its core business within the area of chemical and technical apparatus and installation engineering.
The joint venture offers both partners a number of strategic benefits:
SIMONA considers the partnership with Georg Fischer in the area of fluorine-based plastics to be an important step forward in terms of its incisive growth strategy. Listed on the Frankfurt stock exchange, SIMONA AG supplies semi-finished products and piping components made of thermoplastics, mainly for industrial applications. SIMONA is recognised as one of Europe's leading companies within this field, generating revenues of EUR 166.1 million and earnings of EUR 14.7 million in 2001. The company employs roughly 1,000 people.
The expansion of the high purity segment for customers in the semiconductor, life science and pharmaceutical industries is in line with the Georg Fischer's Piping Systems Group strategic intention to further expand its business activity and market presence as a supplier of piping systems for industrial applications, gas and water supplies and domestic installations worldwide. Industrial applications account for more than 50 per cent of the corporate group’s sales revenues. The Georg Fischer Piping Systems Group posted sales of CHF 845 million (EUR 575 million) in 2001 and has about 3,400 employees worldwide.
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