Loschelder advises Oerlikon on the divestment of its “Barmag Spinnzwirn” business
Loschelder has advised the Oerlikon Group on the divestment of their tape and monofilament technologies. The German business unit from Chemnitz – also known under the brand name “Barmag Spinnzwirn” – will be acquired by the Austrian Starlinger Group based in Vienna.
Over the last decades, “Barmag Spinnzwirn“ has been successfully established in the market as a technology trendsetter. The Oerlikon Manmade Fibers Segment unit provides their extrusion plants for the production of tape and monofilaments as turnkey plant-design solutions. The business unit has a very solid international customer base with long-standing successful relationships. The Chemnitz site currently employs about 160 members of staff.
The parties agreed not to disclose the purchase price. The acquisition is expected to be completed during the third quarter of 2018.
Oerlikon engineers materials, equipment and surfaces and provides expert services to enable customers to have high-performance products, and systems with extended lifespans. Drawing on its key technological competencies and strong financial foundation, the Group is sustaining mid-term growth by executing three strategic drivers: addressing attractive growth markets, securing structural growth, and expanding through targeted mergers and acquisitions (M&A). A leading global technology and engineering Group, Oerlikon operates its business in three Segments – Surface Solutions, Manmade Fibers, and Drive Systems – and has a global footprint of approximately 15,000 employees at 186 locations in 37 countries. In 2017, Oerlikon generated CHF 2.8 billion in sales and invested CHF 107 million in research and development (R&D).
Oerlikon was advised by: Dr Sebastian Kalb, Dr Nikolai Wolff (both M&A/Corporate; both leading), Dr Martin Brock (employment and pensions) and Dr Stefan Maaßen (IP); Associates: Svenja Ersfeld (M&A/Corporate) and Dr Patrick Pommerening (IP)
Inhouse team of Oerlikon: Cosima Preiss, General Counsel Oerlikon Manmade Fibers