Strategic cooperation between Pfeiffer Vacuum Technology AG and Busch SE planned
- Cooperation will be focused especially on the areas of Purchasing, Sales and Services, Research & Development as well as IT
- Goals: Strengthening the competitive position, utilizing growth potential and increasing efficiency
The Management Board and the Supervisory Board of Pfeiffer Vacuum Technology AG (Pfeiffer Vacuum) today decided to agree on a strategic cooperation with Busch SE (Busch Group) to collaborate closer in the future, especially in the areas of Purchasing, Sales and Services, Research & Development as well as IT. The objectives of the planned cooperation are to strengthen the Company's competitive position in the market for vacuum technology, to make better use of growth opportunities and to improve cost structures. In the context of this strategic cooperation, Busch SE has announced that its shareholding in Pfeiffer Vacuum held via its subsidiary Pangea GmbH has crossed the threshold of 50%.
Dr. Eric Taberlet, CEO of Pfeiffer Vacuum, comments: ”Through the strategic cooperation with the Busch Group, for example in Research & Development as well as in procurement and sales processes, we could achieve accelerated growth and a better competitive position in the coming years. Also with respect to the consolidations in the vacuum market itself, it would additionally support our target to position Pfeiffer Vacuum as technological leader and strong number two in the global vacuum business.”
The starting point for these considerations of a strategic cooperation is the multitude of similarities between the two companies as international vacuum technology groups, which have a complementary product range with solutions for different target markets. In the coming weeks, analyses and evaluations of growth potential and synergies in the areas of Purchasing, Sales and Services, Research & Development and IT will take place. Bundling purchasing volumes could create price advantages. Complementary product and service offers could optimize the value chain of both companies and expand their market presence. Cooperation in individual research and development projects should result in greater innovative strength and higher profitability.
Sami Busch, managing partner of the Busch Group, says: "We are pleased about today's launch of a planned cooperation, which we will now work out in detail together with the management of Pfeiffer Vacuum. The agreement aims at enabling us to utilize synergy effects in selected areas and thus strengthen the market position of both Pfeiffer Vacuum and the Busch Group. Our customers would benefit from our more comprehensive product offering for various application areas and from our joint market development. With this step, and with the increase of our shareholding to more than 50 percent, we are also reaffirming our long-term commitment to Pfeiffer Vacuum."
Dr. Eric Taberlet adds: “A cooperation with the Busch Group would provide excellent support to the growth strategy of Pfeiffer Vacuum, based on the three-year investment plan with a total amount of EUR 150 million.”
In the coming weeks, both companies will establish the framework for the planned cooperation and evaluate the growth and synergy potential in the selected areas.
In order to implement the individual areas of the growth strategy – gaining market share, strengthening the global production and value chain, expanding research and development activities – more quickly and with greater focus, it has been decided to rearrange the organizational structure of the Management Board as of January 1, 2019. Management Board and Supervisory Board have decided to organize the company according to its global business functions in the future.
The new functions of the Board members as of January 1, 2019, are:
- Chief Executive Officer (CEO)/ Chief Sales Officer (CSO): Dr. Eric Taberlet
Dr. Taberlet will supervise the execution of the global market strategy and performance-oriented sales and service processes. His responsibilities as CEO remain unchanged.
- Chief Financial Officer (CFO): Nathalie Benedikt
Nathalie Benedikt will keep her responsibility for the central functions of the Corporate Group: Controlling & Finance, Corporate Communications, IT, Human Resources and Investor Relations.
- Chief Technology Officer (CTO): Dr. Ulrich von Hülsen
Dr. Ulrich von Hülsen will ensure the execution of the global product and technology strategy as well as of innovative development processes.
- Chief Operations Officer (COO): N.N.
The COO will ensure the performance, efficiency and flexibility of the global operations infrastructure and processes.
The COO position will be filled with an external consultant on an interim basis. At the same time, the search for suitable candidates to fill the position will be started. Dr. Matthias Wiemer will as a member of the Management Board take care of special assignments until the expiration of his contract on December 31, 2019.