Sulzer Acquires Mixpac, Werfo and Mold
In 2005 the companies Mixpac, Werfo, and Mold achieved combined sales of approximately CHF 110 million and today employ around 350 persons. Sulzer Chemtech intends to use the acquisition to strengthen and expand its market position in static mixing. Sulzer purchases the corporations Mixpac, Werfo, and Mold in two steps for about CHF 210 million.
Mixpac, Werfo, and Mold develop and produce two-component mixers and systems primarily for the dental and industrial markets. Production locations are in Rotkreuz and Haag, Switzerland, as well as in Eschen, Principality of Liechtenstein. Most of the 347 employees work in Switzerland. The companies reported combined sales of about CHF 110 million in 2005 with a return on sales that is considerably higher than that of Sulzer Chemtech. Also, integration costs are low; therefore value will be created in 2007 already.
The acquisition will help Sulzer Chemtech to significantly expand its existing static-mixing business. Today this business area reports sales of about CHF 55 million with approximately one third realized in the fast growing market of two-component mixers and systems.
The existing production locations of the acquired companies and all employees will be retained after the acquisition. The two current owners, Wilhelm Keller and Eugen Längle, will stay engaged with 25 percent ownership for another two years. They will also continue to serve on the board of directors in order to ensure a smooth transition. After official authorization, Sulzer will complete the purchase of the first 75 percent of shares for about CHF 150 million in the fourth quarter of 2006.
