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Von Ardenne Anlagentechnik acquires glass coating business of BOC Coating Technology
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BOC Coating Technology, part of BOC Edwards, has today announced the sale of its glass coating business to Von Ardenne Anlagentechnik GmbH, Dresden, Germany. Von Ardenne has incorporated a new subsidiary company, Von Ardenne Coating Technology, Inc., to acquire the business, which consists of net assets of less than £10 million.
BOC Coating Technology, of which the glass coating business is part, is based in Fairfield, California and employs around 120 people. About 70 of the BOC Coating Technology permanent staff will transfer to the new company.
Dr. Peter Lenk, Chief Executive of Von Ardenne, commented that this was an important milestone in the growth of Von Ardenne Anglagentechnik, which began in 1995. This is the first investment of the Dresden company in a business outside Germany.
Raj Rajagopal, Chief Executive BOC Edwards, added, BOC Edwards is concentrating on the semiconductor industry and applications for vacuum technology in a number of specialist markets. The glass coater business sits more comfortably in the hands of a company whose capabilities cover a range of large industrial vacuum systems and we expect the business to flourish in the years to come.
Temescal, the other business at the Fairfield facility, will be retained by BOC and will remain at Fairfield for the time being.
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April 16th, 2002
Source: GlassOnWeb.com |
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