Pfeiffer Vacuum Technology AG intends to acquire Alcatel-Lucent?s Vacuum Technology unit ?Adixen?
Negotiations on the purchase of the companies, patents and licenses belonging to this unit have been largely finalized.
Alcatel-Lucent’s Vacuum Technology Unit, which does business under the Adixen brand name, is an acknowledged world leader in vacuum pumps and leak detectors with a top market position in the field of backing pumps. In fiscal year 2009, the Adixen unit generated sales revenues of € 134 million and a negative EBITDA of € 3 million which was largely attributable to the general economic crisis. The interim financial statements for the Adixen unit for the period ended June 30, 2010, record sales revenues of € 116 million and an EBITDA of € 14 million. On the basis of these numbers, sales revenues of approximately € 270 million and an EBITDA of approximately € 40 million are anticipated for the entire fiscal year 2010.
The purchase price for this unit will total approximately € 200 million on a debt/cash-free basis and will be fully financed through a bank loan. Pfeiffer Vacuum intends to reduce a portion of the acquisition financing by selling treasury shares and through a capital increase from authorized capital in the amount of up to 10 percent of its share capital. The supervisory board of Pfeiffer Vacuum consented to the acquisition today. Prior to the signing of the contract, a hearing of employee councils of the Alcatel-Lucent group is required. The acquisition is planned to become effective on December 31, 2010.