Effective September 2012, RUAG Coatings AG, located in Altdorf, Switzerland, became a 100 % subsidiary of Impreglon SE in Lüneburg, Germany. RUAG decided to sell off this division, because it is not part of their core business and, in collaboration with the Impreglon group, has a greater chance for a successful future. All of the employees will continue to work for the company. The acquisition was finalized October 4, 2012. The two parties agreed not to disclose the purchase price.
Impreglon is a global leader in the field of surface engineering. The group has 25 facilities in 12 countries across four continents. It employs 880 people and anticipates revenue of 90 million Euro in 2012. The company is traded on the German stock exchange under the stock ticker I3M.
RUAG Coatings supplies surface treatments for the machinery, automotive, bicycle and defense industries to over 250 customers in Switzerland, Germany and Austria. The division, with about 100 employees, generates revenue of around CHF 25 million. It will now be named "Impreglon Coatings."
"With our new subsidiary in Altdorf, the range of surface treatments offered by the Impreglon group will be expanded to include some interesting new special coatings, offering our customers a "one stop shop" for their coating needs. In the future, the plants in Altdorf, Kaufbeuren and Landsberg will work together to increase the group's activities in Switzerland, southern Germany and Austria," says Henning J. Claassen, chairman of the board of directors of Impreglon SE.
"We are excited to have found Impreglon as a purchaser. The internationally recognized specialist in the coating field can continue to develop RUAG Coatings as part of the Impreglon group and strengthen its market position," adds Konrad Peter, executive chairman of RUAG Holding AG.