Glassmaker Schott focuses its acquisition plans on the dynamic US market
The company is looking at glass and composite manufacturers with sales up to around €150 million ($175 million).
Schott AG (Mainz, Germany), a specialty glass (including laser gain materials) and technical ceramic materials manufacturer, has announced plans to continue to enlarge its US business through what it calls "focused, strategic acquisitions."
Following record results in 2017, in which worldwide sales rose 3.1% to €2.05 billion ($2.26 billion), with gains in all of its three business segments (Precision Materials, Optical Industries and Home Appliances), Schott will try to build on this success by building up its position in North America.
"We have a long and successful track record integrating acquired companies," says Jens Schulte, CFO at Schott AG.
Companies producing complementary glass types and composites and offering related services that would add value to the Schott portfolio will be evaluated closely, particularly those operating in the fields of pharma and electronic packaging, optical components and materials, lighting components and solutions, and glass powder and fiber, according to Schott. Companies with sales up to around €150 million are targeted, and several of such deals are expected to be pursued.
Schott's existing sales in North America have grown by 4% to €420 million over the prior fiscal year, which was largely attributed to increased demand for advanced glass-ceramics such as ZERODUR (a virtually zero-expansion glass-ceramic that is a key component in microlithography and astronomy) and high-quality glass and fibers used in the pharmaceutical, medical, and life-science applications. Electronics and home appliances also saw growth, which is expected to continue further with the launch of new products such as the company's CERAN Miradur scratch-resistant cooktop.
For more info on Schott, see https://www.us.schott.com/innovation/