Isola AG Sheds Swiss Subsidiary STESALIT AG

08-Dec-2000

Isola AG in Dueren, Germany (near Cologne), a company belonging to Essen-based RÜTGERS AG, is selling its Swiss subsidiary, STESALIT AG, to concentrate on its core business of base materials for printed circuit boards. The new owner is the Gurit-Heberlein Group, also based in Switzerland, which will acquire all shares of STESALIT AG on January 1, 2000.

STESALIT AG, which is located in Zullwil near Basle, has specialized in producing high-performance compounds. It has recorded steady growth since being bought by Isola in 1990 to augment the Düren-based company’s traditional range of reinforced plastics for technical applications. STESALIT’s customers include all major aircraft manufacturers. This year the company’s 60 employees have generated sales of 30 million Swiss francs.

The 1999 acquisition of the laminate activities of former AlliedSignal Corp. has propelled Isola to become the world’s leading vendor of glass-fiber-reinforced laminates for electronics applications. As an outgrowth of Isola’s focus on this field of business, at the end of last year the company’s Technical Laminates (sheets and tubes) and Moulded Parts divisions were spun off into a joint venture with the Swiss firm of Von Roll AG, in which Isola holds a 34% stake. Isola is now shedding STESALIT to concentrate fully on the fast-growing electronics market.

The Gurit-Heberlein Group is mainly devoted to chemical and synthetics technology. This year it is poised to achieve a total sales volume of about 800 million Swiss francs. The Group is buying STESALIT to bolster its traditional activities in fiber and compound materials.

https://www.chemeurope.com/en/news/471/isola-ag-sheds-swiss-subsidiary-stesalit-ag.html