Mikron slims down to focus on core business
The Biel-based Mikron Technology Group is to sell its milling machines division, Standard Machines, so it can concentrate on its mobile telephone business. The buyer is Georg Fischer's Agie Charmilles unit.
Standard Machines has been performing well this year, with orders up 40 per cent, and deliveries up 25 per cent in the first six months of the year. Annual turnover for 2000 is estimated at SFr180 million.
Agie Charmilles is to take over the company in its present structure with no job losses.
The Mikron Technology Group is active in mobile communications, medical technology, electrical engineering and also the automotive industry.
In a statement, Mikron said that with the handover of Standard Machines it was pressing ahead with its strategy of focusing on its major markets, most importantly mobile telephones.
"The marked growth in all Mikron divisions for the financial year 2000 will offset the volume surrendered to Agie Charmilles from August 1, 2000. The previously published targets set for profits and volumes for the 2000 financial year are therefore still realistic," the company added.
No financial details were released on the sale of Standard Machines.
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