Strong margin improvement at Oerlikon Textile segment
30 Apr '12
4 min read
The results for the Solar Segment are now reported under discontinued operations, with first quarter financials for 2012 and 2011 restated accordingly. The transaction is expected to close in the summer of 2012.
In April 2012, Oerlikon announced its exit from the optical disc equipment business, which had been in decline for some time. The Company also announced to streamline its Drive Systems' operations in Italy by consolidating the number of sites from seven to five. Furthermore, Oerlikon has sold its minority stake in Pilatus Flugzeugwerke AG which marks another step to focus the portfolio on operational growth businesses. The proceeds of the Pilatus transaction will be booked in the second quarter.
Oerlikon will continue to focus on efficiency and underlying performance improvements through disciplined execution of Operational Excellence measures, expansion of market share through innovation, development of the global footprint through further regional expansion and optimization of the portfolio. The Company sees upside potential for the existing full year outlook 2012 with improved business volume and profitability.