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Niederwangen, June 19, 2012, 7 a.m. – As announced by Adval Tech in mid-April, the Group intends to streamline its field of activity and focus its energies on a limited number of core areas with a global orientation. The Board of Directors of the Adval Tech Group has now decided to focus in the future on mold-making and on selected activities in the components business. Adval Tech is looking for possible cooperation opportunities for its metal stamped / deep drawn parts (automotive industry) business and for its components activities in the medical technology sector. Talks with interested parties are already under way.
Thanks to innovative technologies and an above-average range of products and services along the entire value chain, Adval Tech currently has great potential for development in all of its areas of activity worldwide. However, owing to the Group’s global orientation and discerning clientele in high-volume business, all business areas require substantial investments. The Adval Tech Group is not in a position to make such investments in all fields at the same time. Consequently, cooperation possibilities for metal stamped / deep drawn parts used in the automotive industry (Styner+Bienz, Niederwangen and Brazil), and for medical technology (Teuscher, Adval Tech Medical Suzhou and Adval Tech Medical Querétaro) are now being considered.
In addition, following the company’s nomination for a large-scale order to produce steering systems, the cooperation with the US-based partner Anchor is being further expanded.
Also with a view to focusing its operations, Adval Tech has placed the activities of Omni Engineering (Shanghai) Co. Ltd and Omni Industries Tech Center Co. Ltd, Suzhou, under joint management.
In parallel to reviewing its strategy, the Board of Directors has analysed the Group’s capital base and decided that this is not the right time to increase its equity capital. Because the earnings situation has improved this year, it will be possible to implement the strategic focus with the available funds.
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