Hönle acquires Raesch, the quartz glass specialist

Gräfelfing, Munich, 17 February 2012

Dr. Hönle AG acquires 80 % of the shares in the Raesch Group.

The corporate group manufactures tubing and semi-finished goods made of quartz glass. Its customers come from various branches of industry, in particular, however, from the lighting, semiconductor, automotive supplier and water treatment industries. Bulbs for UV and infrared lamps are made from quartz glass; in addition, the products are used in the semiconductor industry to manufacture integrated circuits and in the automotive industry to manufacture camshafts.
Raesch has a broad customer base and achieves approximately 75 % of its sales revenues abroad, mainly in the Asian growth markets. 
The company was established in Germany in 1990 and was expanded in 1997 to include a production center for quartz glass components in Malta. The Raesch Group consists of Raesch Quarz (Germany) GmbH, Langewiesen, and Raesch Quarz (Malta) Ltd, Malta. In Germany, quartz glass tubing is manufactured using a total of eight melting furnaces. In Malta, quartz tubing is further processed by means of semi-automatic manufacturing processes. Raesch has a high degree of manufacturing competence in both the production of quartz tubing as well as in the further processing of quartz glass tubes.
Quartz glass of the highest degree of purity is produced at both locations by a staff of approximately 150.
According to preliminary figures, sales revenues in 2011 amounted to ca. € 17 million, and the operating result (EBIT) came to ca. € 3.4 million.

The Raesch Group acquisition results in synergies in a number of segments. Aladin GmbH and Speziallampen GmbH use quartz glass tubing from the Raesch Group to manufacture UV medium-pressure and low-pressure lamps. Synergies also result from transferring the manufacturing stages of the two companies to the Raesch Group. As a consequence, production processes can be made more efficient and, at the same time, more cost effective. Moreover, the Malta location provides tax advantages. We also expect positive effects to arise from use of the Hönle Group sales network in conjunction with the Raesch Group sales network. 

We assume that the Raesch Group will experience sustained positive development as we see good growth potential for quartz glass tubing in the most varied segments of industry: Raesch tubing is used to manufacture computer chips in the semiconductor industry and as lamp tubes, cladding tubes and protective tubes in water treatment. In micro lithography, the quartz glass tubing of Raesch Group is needed to manufacture displays. The automotive industry employs quartz glass tubing as casting cores for camshafts and in the photovoltaics segment quartz glass tubing is used in the oxidization and coating of silicon wafers, as well as in the production of LEDs.

By taking over the Raesch Group, Hönle further expands its competence as a photonic specialist. Also, with this acquisition, Hönle continues its strategy of generating increased sales in the short-lived consumer goods or short-lived commodities segments, in addition to the equipment and system business. The share of consumer goods and short-lived commodities in Hönle Group’s total sales revenues is above 50% after take-over of the Raesch Group.
Following the acquisition of an adhesives specialist and a lamp specialist, the Hönle Group now also includes a quartz glass company due to the Raesch Group take-over.

Upon signing the purchase contract, Dr. Hönle AG received the right to acquire the remaining 20% stake in the Raesch Group. It has been agreed to maintain secrecy as to the amount of the purchase price. Consolidation of the Raesch Group will take place on 1 January, 2012.

As planned, Hönle will publish the 3-month report 2011/2012 on 28 February 2012. The report will include planning figures regarding the sales and earnings development of the Hönle Group for the current financial year, which also include the effects of the Raesch Group acquisition. 

Further information is available from the Raesch Group:
www.raesch.net

About Hönle:
Dr. Hönle AG is a listed technology company with registered head office in Gräfelfing, near Munich. With a staff level of ca. 500 employees, the Hönle Group is one of the world’s leading systems suppliers in the UV technology segment. The equipment and systems are used for drying inks and coatings, curing adhesives and plastics, disinfecting surfaces, and in the simulation of natural sunlight. The Company’s business activities focus also on the development and sale of industrial adhesives and compounds. The Group is represented by own companies and sales partners worldwide at about 50 locations in more than 20 countries.

Contact: Dr. Hönle AG, Peter Weinert, Lochhamer Schlag 1, 82166 Gräfelfing, Munich, Phone: +49-89-85608-173, Fax: +49-89-85608-148, peter.weinert@hoenle.de, www.hoenle.de.

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