Oerlikon-Bührle ends string of poor results

The Oerlikon-Bührle group in Zurich, which has undergone major changes over the past few months, says that it will probably break even this year after making a loss of SFr169 million in 1998.

The Oerlikon-Bührle group in Zurich, which has undergone major changes over the past few months, says that it will probably break even this year after making a loss of SFr169 million in 1998.

The company said that turnover last year was almost SFr2.9 billion. This is more than 20 per cent lower than 1998 but reflects the sale of parts of the group, including Oerlikon Contraves Defence, Oerlikon-Bührle Immobilien (real estate) and the shoe manufacturer Bally.

It added that, as expected, the group’s net debt could be completely eliminated as of year-end.

Sales within the core sector of the group, the technology company, Balzers and Leybold, increased by 1.2 per cent to almost SFr1.9 billion, while the Pilatus company (aircraft) saw turnover increase by 13.3 per cent to SFr435 million.

Oerlikon-Bührle says it is optimistic about the future, with incoming orders received during the fourth quarter mainly attributable to stimulated demand in the information technology sector.

In line with its repositioning strategy introduced last year, the group is building a high technology group around Balzers and Leybold, which is specialised in the vacuum and surface treatment technologies.

Oerlikon-Bührle announced on Monday the acquisition of the Plasma-Therm company in St. Petersburg, Florida, to reinforce its position in the semiconductor equipment industry.

This follows the acquisition last November of about 27 per cent of shares in the Esec company of Cham in central Switzerland which produces automated chip assembly machines. The deal included a purchase option for the majority of Esec’s shares.

From staff and wire reports