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Acquisition of Huber + Suhner Composites
CONNOVA acquired THE Business Unit Composites of the Huber + Suhner Group. The unit which will transfer to CONNOVA by the end of 2015 achieved in the current year with approx. 20 employees sales of around CHF 4 million.
Jon Andri Jörg, CEO of CONNOVA explains the transaction: "The Business Unit of Huber + Suhner fits perfectly into our portfolio of services. The well-developed winding technology business gives our customers access to any of the high-tech composite manufacturing processes on the market. The consolidated group is also capable of realizing a significantly better utilization of their resources."
The decision provides to all concerned parties a future-oriented solution. Customers are served of one company and will benefit from comprehensive services around the high-tech carbon products. CONNOVA strengthens the core business around its aerospace, automotive and medical segments. A 12-month job guarantee was offered to all of the 20 employees.
With this sale Huber + Suhner, the manufacturer of components and systems for electrical and optical connectivity solutions, separates itself from the last of its non-strategic activities.