Heraeus Group creates independent company for its fiber optics business
Hanau, 26 March 2001. On 2 March 2001, the stakeholders of the global precious metals and technology group, Heraeus Holding GmbH, agreed in an extraordinary stakeholders' meeting to convert the Fiber Optic Products Division of Heraeus Quarzglas GmbH & Co. KG into an independent company.
After the filing with the Register of Companies, which is soon going to take place, the Fiber Optic Products Division will be converted into a new joint stock company. The new company will appear on the market independently under the name of Heraeus Tenevo AG. The conversion will become effective retroactively as of 1 January, 2001.
The new company is expected to be fully disassociated from the Heraeus Group by June 2001. Shares of Heraeus Tenevo AG will be held in the future by the Heraeus stockholders through a financial holding company. The Heraeus Group intends to use this spin-off of the fiber optics division to secure and expand their leading global market position in the production of high-purity synthetic quartz glass. At the same time, flexible structures will be created to provide the opportunity for direct participation by external investors in this company.
The current Fiber Optic Products Division at Heraeus Quarzglas GmbH & Co. KG is a worldwide leader in the production of high quality tubes made from synthetic quartz glass for the production of optical fibers for optical data transfer. Compared to the previous year, the fiscal year 2000 saw a considerable increase in sales of over € 200 million. The number of employees also increased by 150 over the same time period. In light of the anticipated growth, more than 200 additional jobs will be created worldwide over the course of the next 12 months.
The fiber optics business of Heraeus Tenevo AG contributes considerably to the growth of the telecommunications industry. This industry is expecting the global demand for optical fibers to double in the next three to four years. This growth requires a broad expansion of production capacity at all locations.
In order to secure investment financing in the coming years and to ensure the necessary resources for the growth of other companies in the Heraeus Group, the basic prerequisite for achieving the anticipated growth of Heraeus Tenevo AG by the participation of external capital investors in the company has thus been created.
The new company has its headquarters in Hanau, Germany and manages additional production sites in Bitterfeld, Germany and Buford, Georgia, USA. The Chief Executive Officer at Heraeus Tenevo AG is Günter Bachmann, previously Managing Director of Heraeus Quarzglas GmbH & Co. KG. The executive board also includes the previous Division Head Norbert Treber, who will be responsible for Production, Marketing and Sales as well as Heinz Fabian (formerly head of R&D at the Fiber Optic Products Division) who will be responsible for Product and Technology Development. Dr. Jürgen Heraeus will serve as Chairman of the Supervisory Board.
Heraeus Tenevo AG manufactures synthetic quartz glass tubes for the production of optical fibers that are required in the transfer of optical data. Synthetic quartz glass is created through the oxidation of silicon tetrachloride, SiCl4. In terms of the purity of the synthetic output material and automatic processing under clean-room conditions, quartz glass from Heraeus Tenevo AG meets the highest quality requirements.
Heraeus Tenevo AG will seamlessly continue the success of Heraeus Quarzglas in the fiber optics sector. An excellent, high-quality product that has earned over decades the trust of customers worldwide and the commitment of its employees will further develop and steadily expand the leading market position of the business.
Heraeus, the German precious metal and technology group headquartered in Hanau, Germany, is a global, private company in the business of precious metals, dental health, quartz glass, sensors, specialty lighting products a
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