BWT Takes Over Pharmaceutical Water Business from CHRIST
BWT is expanding its expertise with the taking over of the pharmaceutical water activities of the Christ Water Technology Group incl. a 49% stake in zeta-group. Bringing an entirely new dimension to safety, hygiene and health in contact with life’s elixir “water”, in particular in pharmaceutical water applications.
CHRIST has built up an excellent worldwide reputation as a pioneer in technology, European market leader and full-service provider of pharmaceutical water systems.
With around 200 highly-qualified, experienced employees and annual consolidated sales of approximately 35 million Euro in this area, BWT then offers complete solutions for pure- and ultra-pure water, water for injection purposes, sterile steam, cleaning systems (CIP/SIP), pharmaceutical waste water treatment and a comprehensive range of services under the leading brand name of “Christ Aqua”. Alongside its customer-focused sites in Switzerland, Germany, Sweden and Ireland, the locations in China, India and the cooperation in USA also offer BWT access to important markets outside Europe. Additionally the 49% zeta participation offers an interesting future potential in Biopharma business.
The closing of the deal is expected to take place by September 30th, 2009 and is subject to the approval of the extraordinary general assembly of Christ Water Technology AG and of BWT AG in the first half of August 2009 (separate invitations will be issued soon). Additionally the approval of anti-trust agency is required. The total transaction volume incl. assets is expected to be more than 35 million € in cash and will be funded by existing credit lines of BWT. As a result of the sluggish overall economic performance, the takeover should have only minor effects on BWT’s net profits for 2009 and 2010.
Andreas Weißenbacher, ”We are starting with a highly-motivated and very experienced team with the target to meet the high standards of our customers. This new line-up in the pharmaceutical water business will help us with internationalization, support our service strategies and should lead to positive contribution to net income from 2011 onwards.“
Source: BWT Wassertechnik GmbH