Schweiter Technologies to sell Satisloh to Essilor Group

6/16/2008, 6:00 AM (Source: GlobeNewswire)
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Horgen, June 16, 2008 - Schweiter Technologies has reached an
agreement with the French Group Essilor International for the sale of
all the shares in Satisloh Holding AG. The sale price for the
debt-free company is EUR 340 million (approx. CHF 550 million) in
cash. The sale is subject to the approval of the relevant competition
authorities. The transaction is expected to be completed in the
second half of 2008.
Satisloh is the world's leading full-range supplier of machines for
the production of spectacle lenses as well as lenses for the optics
industry. Satisloh, a division of Schweiter Technologies, reported
revenues of CHF 270 million in 2007 and an operating profit of CHF 42
million. Satisloh's headcount is 410 employees.

Essilor International is the global market leader in optical products
for ophthalmic applications. Headquartered near to Paris, the company
operates 15 production sites and 270 lens finishing laboratories
worldwide. In 2007, the company reported revenues of EUR 2,908
million and a net profit of EUR 367 million with over 30,000
employees worldwide. Essilor has a market capitalization of around
EUR 8.5 billion. The acquisition of Satisloh by Essilor means that
the research & development capacities and know-how of the two
companies can be used even more effectively, resulting in particular
in shorter innovation cycles. This will benefit the entire optics
industry, from laboratories and chain stores to individual opticians.

Essilor will continue to operate Satisloh in its present form, in
particular as a Swiss company with its headquarters, marketing and
finance units in Baar, production sites in Italy and Germany, and
global sales operations. Satisloh CEO Beat Siegrist will retain this
office and also be appointed to the Essilor Executive Committee.

Upon completion of the transaction, Schweiter Technologies will hold
substantial liquid assets (net liquidity as at end 2007: CHF 120
million). These are to be invested in operating activities, i.e. the
strategic expansion of existing business lines as well as new areas
of activity.

Changes to the management of Schweiter Technologies
Following the sale of Satisloh, Beat Siegrist, presently CEO of both
Satisloh and Schweiter Technologies, will step down from the latter
office after 12 highly successful years. Beat Siegrist's election to
the Board of Directors of Schweiter Technologies at the last General
Meeting means that he will continue to provide the company with his
support, above all with regard to strategic direction.

In addition to his current function, Heinz Baumgartner, CFO of
Schweiter Technologies since 1996, will preside over the Group
Management, whose members also number the CEO of SSM Textile
Machinery and Ismeca Semiconductor as well as the Chief Purchasing
Officer.

In light of recent events, a media and analyst conference is to be
held on Monday, June 16, 2008 at 1:00 p.m. at the Marriott Hotel,
Neumühlequai 42, 8001 Zurich

Schweiter Technologies
www.schweiter.com
Schweiter Technologies, a Swiss company with a strong tradition,
focuses activities on high-quality machine construction. The Group
currently comprises the divisions SSM Textile Machinery, Ismeca
Semiconductor and Satisloh. Shares of Schweiter Technologies are
listed in the main segment of the SWX Swiss Exchange.
ISIN: CH0010754924 / Reuters: SWTZ / Bloomberg: SWTQ SW

Essilor
www.essilor.com
Essilor International is the global market leader in the production
of ophthalmic products. Under the brand names Varilux®, Crizal®,
Essilor® and Definity® the company offers a range of products to
correct myopia (near-sightedness), hyperopia (far-sightedness),
presbyopia (disorder of the eye caused by ageing) and astigmatism
(irregular curvature of the cornea). Worldwide, Essilor has 15
production sites, 270 lens finishing laboratories and local
distribution channels. In the 2007 financial year, the company
achieved revenues of EUR 2,908 million with a headcount of 31,500
employees.
The shares of Essilor are listed on the Euronext Paris Market and
included in the CAC 40 Index.
ISIN: FR0000121667 / Reuters: ESSI.PA / Bloomberg: EF FP


Schweiter Technologies AG, Neugasse 10, CH - 8812 Horgen, Switzerland
Tel. +41 44 718 33 11 Fax +41 44 718 34 51 info@schweiter.com
www.schweiter.com


The media release can be downloaded from the following link:



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Schweiter Technologies
Neugasse 10 Horgen Switzerland

WKN: 879123;
ISIN: CH0010754924; Index: SPI, SPIEX, SSCI;
;

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