Change of ownership of Laeis Bucher Technology

Bucher Industries and Sacmi Cooperativa Meccanici Imola a.r.l., Italy, have signed an agreement to sell 100% of the ownership interest in Laeis Bucher Technology GmbH to Sacmi Group. Sacmi has a leading position in the ceramics industry and is the ideal strategic partner to further expand the business of Laeis Bucher Technology GmbH. Under the new ownership the company’s name will be Laeis GmbH. The acquisition does not include LB Produktion GmbH, the production business of the former Laeis Bucher GmbH.
On 22nd July 2003 Bucher and Sacmi announced their plans for the transaction. The sale is scheduled to take place in January 2004 with retroactive economic effect as of 1st January 2004. The transaction is not subject to approval of merger control authorities. The new owner will continue all employment relationships of Laeis Bucher Technology GmbH.
Karl Eping will go on managing the operations of Laeis GmbH. The purchase price will be treated confidential.
The purchase of Laeis Bucher Technology GmbH by Sacmi will result in a strengthening of the Sacmi Group’s position in the production of machinery and know how in the ceramic field (tiles, refractories, technical ceramics). Regarding sales and production technology, Sacmi and Laeis GmbH, will operate independently in the market.
LB Produktion GmbH is not affected by the transaction and will continue to supply its manufacturing and assembly services under a supplier agreement to Laeis GmbH and third parties in different fields. Bucher Industries is looking into various forms of cooperation with partners for LB Produktion GmbH.