Nuremberg – LEONI, the German cable and wiring systems manufacturer, will, subject to cartel authority approval, acquire all the shares in Däniken-based Studer Draht- und Kabelwerk AG effective 31 July 2006 at a price translating to about 105 million euros. With sales of about 84 million euros in the 2005 financial year and approximately 350 employees, the non market-listed family business founded in 1939 is one of the five largest Swiss cable manufacturers and also one of Europe’s most profitable cable makers. As part of the LEONI, Studer will gain access to the global distribution network of the group of companies and to new markets. LEONI will, with the takeover, acquire ownership of Studer’s leading technology in the area of high-end cable systems and will be able to significantly expand its range of products and services as well as presence in the market, especially in Switzerland.
Two divisions, Studer Cables and Studer Hard
Studer Cables is one of Europe’s leading suppliers of halogen-free installation cables for, among other applications, rail and road tunnel systems, as well as being one of the key suppliers to the Swiss power utilities. An area of particular focus is manufacture and distribution of high quality industrial and special cables, especially for rolling stock, airport and solar equipment, shipbuilding, automotive engineering as well as applications in the industrial environment. With its irradiation crosslinking and sterilisation business Studer Hard, the Swiss company is one of the leading service providers in Europe in the area of refining and sterilising industrial, pharmaceutical and medical equipment products. “With its acquisition of Studer Draht- und Kabelwerk AG, LEONI will strengthen not only its presence in the Swiss market. We will also expand our position in the area of high-end special cables and will gain the technological expertise of an innovative company for the entire LEONI Group,” Klaus Probst, Chairman of the Management Board of LEONI AG, is pleased to declare.
Initial collaboration in rolling stock engineering
Studer, based in the town of Solothurn, has in recent years transformed from a pure cable manufacturer to a provider of complete cable systems. In the wake of this development, LEONI and Studer had already engaged in the early summer of 2005 in a joint venture to comprehensively cover the railway market, namely LEONI & Studer Transportation Systems GmbH based in Röttenbach, southern Germany. Mutual plans to improve the respective competitive positions were subsequently developed, culminating – after in-depth analysis and talks – in the agreement that LEONI would take over the Swiss cable specialist Studer. “The LEONI Group will provide Studer with access to world’s markets and ensure that our business will – thanks not least to its financial resources – continue to grow,” says Andreas Binder, President of Studer’s Administrative Board.
