Oerlikon Chief Sees More ‘Strategic Decisions’ After Solar Sale
Oerlikon’s Chief Executive Michael Buscher said the sale of a solar business for 250 million Swiss francs ($269 million) may be followed by other “strategic decisions” that draw on the company’s enhanced financial strength.
“It’s obvious that with strong operational results, and the credit facility that we set up, that those achievements give flexibility in strategic decisions going forward,” Buscher, who has led the Pfaeffikon-based firm since 2010, said in a telephone interview. He declined to specify whether purchases or divestments are planned.
The stock has risen 85 percent this year as Buscher divested peripheral units, including a textile-equipment business in July. Oerlikon signed the contract to sell the solar unit in March and was expecting the deal to close last quarter. The division makes equipment and production lines that companies such as Sharp Corp. (6753) use to make thin-film modules with silicon.
To contact the reporter on this story: Patrick Winters in Zurich at firstname.lastname@example.org
To contact the editor responsible for this story: Benedikt Kammel at email@example.com