Montana Tech Components AG takes over Alu Menziken Group
Menziken, July 5, 2007 – Montana Tech Components AG in Menziken takes over the majority of the family-owned Alu Menziken Holding AG from the Gautschi family. The transaction comprises 52 % of the capital and 73 % of the voting rights. Both parties agreed not to disclose the purchase price. The new owners aim to promote the further development of the area Wynental valley, in the canton of Aargau, Switzerland as a location of technology and production. Furthermore, they intend to continue the already initiated investment program which comprises CHF 30 m. The number of jobs will be maintained. The minority shareholders will receive an offer for their Alu Menziken shares by the end of 2007, at the latest.
Montana Tech Components AG in Menziken is an international manufacturer of components with the divisions of Aerospace & Industrial Components, Metal Tech and Varta Micro Power. The company invests in well-positioned companies with strong growth potential and sustainable profitability. The company currently holds the majority interests of Alu Menziken Holding AG (Aerospace & Industrial Components) in Menziken, Switzerland, MNI Holding GmbH (Metal Tech) in Regau, Austria, and Varta Microbattery GmbH (Varta Micro Power) in Ellwangen, Germany. Almost 90 % of Montana Tech Components GmbH is held by institutional investors from German-speaking countries. The rest of the shares is owned by private investors, also from Austria, Germany and Switzerland.
Hitherto members of the Alu Menziken Holding AG supervisory board will allocate their positions on the occasion of an extraordinary general meeting on August 14, 2007. The supervisory board will recommend candidates to be elected by the shareholders as following: Kurt Ott and Paul Häring (representative of minority shareholders) will be proposed for reelection and Klaus Sernetz, CEO of Montana Tech Components AG, will run for election. Klaus Sernetz is supposed to take over chairmanship subsequently. The management with Thomas Staub (CFO of Alu Menziken Holding AG), Daniel Anliker (Manager of Alu Menziken Extrusion AG) and John Ball (Manager of Universal Alloy Corp.) will remain unchanged.
Montana Tech Components AG announced that the minority shareholders of Alu Menziken Holding AG will receive an offer for their shares until December 31, 2007, at the latest. For this purpose, the Alu Menziken supervisory board will assign a renowned auditing company to undertake a valuation of Alu Menziken Holding AG´s shares.
As Daniel A. Gautschi states, “by selling the family’s shares to a financially strong investor with a long-term industrial strategy, the company is able to expand its activities in the Wynental Valley, Aargau, efficiently.”
The integration of Alu Menziken Group represents an important milestone for Montana Tech Components AG in the implementation of its plan to become a leading international manufacturer of components. “We are convinced of the strength that lies in medium-sized businesses such as Alu Menziken,“ says Klaus Sernetz, the CEO of the Montana Tech Components AG. “Alu Menziken has significant growth potential, both in the area of aerospace and industrial applications. “Montana Tech Components AG is relocating its headquarters from St.Gallen to Menziken which is proof of the new owners’ commitment to the Wynental site as a technological location.