10222018Mon
Last updateMon, 27 Aug 2018 3am

Endress+Hauser prepares offer for Analytik Jena

As of 26 September 2013 Endress+Hauser holds 47.33 percent of shares in German-based Analytik Jena AG, 22.99 percent directly and 24.34 percent indirectly. Accordingly, the Group is preparing a mandatory offer to the company's shareholders.

Following last Thursday's clearance from the German Federal Cartel Office, Endress+Hauser (Deutschland) AG+Co. KG is able to acquire the shares originally held by the Netherlands-based Verder Group, along with unsubscribed shares from the recent increase of capital stock. "Accordingly, we yesterday published the fact of having gained control over Analytik Jena, together with our decision to issue a mandatory offer," stated Dr Heiner Zehntner of the Endress+Hauser Group's Executive Board.

The offer price of 13.75 euros per share lies above prices paid by Endress+Hauser for stakes in Analytik Jena during the period leading up to the offer. "We consider this to be a fair and just offer in light of the company's present position and future prospects," added Dr Luc Schultheiss, CFO of the Endress+Hauser Group.

The government of Thuringia, a German federal state, and Klaus Berka, founder and CEO of Analytik Jena, both welcomed Endress+Hauser's increased holding. The Free State of Thuringia currently owns 17.79 percent of Analytik Jena via a fund managed by bm-t, an investment company; Klaus Berka holds 9.93 percent of the company. At a later date both shareholders will negotiate on selling their respective tranches. Discussion will focus on the company's future direction and its integration with the Endress+Hauser Group.

Klaus Berka signalized his desire for involvement with this process, subject to extension of his contract by the supervisory board of Analytik Jena. "We are pleased that Mr Berka has agreed to stay on as CEO and continue running the company after its acquisition by Endress+Hauser," stated Klaus Endress, CEO of the Endress+Hauser Group.

Analytik Jena to remain independent:

Endress+Hauser is expressly committed to the Jena location. "We want Analytik Jena to remain an independent company," emphasized Klaus Endress. Already a leading provider of process instrumentation, with this acquisition the family-owned business aims to develop a presence in laboratory analysis, too. Analytik Jena is active in classical analytical instrumentation as well as in biotechnology and molecular diagnostics.

Endress+Hauser will be strengthening and extending Analytik Jena's worldwide sales to the laboratory sector. Klaus Endress also sees promising potential applications for laboratory instrumentation technology in process instrumentation, and vice versa. "Looking ahead, we will be present with our instrumentation from laboratories, through pilot plants, to industrial production," said the Group's CEO. "Both companies stand to profit from this."


Ulrich Spiesshofer takes over as ABB’s new Chief Executive Officer

Ulrich Spiesshofer has succeeded Joe Hogan as chief executive officer of ABB, the leading power and automation technology group, following the three-month orderly transition period announced earlier this year. Hogan will continue as advisor to the Board until the end of March 2014.

In a welcoming statement, Hubertus von Grünberg, Chairman of ABB’s Board of Directors, said: "Ulrich Spiesshofer has an outstanding track record forming and developing high performing teams and has demonstrated excellent strategy and execution skills.” He added that Spiesshofer enjoys the full support of the entire Board. “We look forward to a close cooperation with Ulrich to further develop ABB's power and automation business under his leadership.”

ABB announced Spiesshofer’s appointment as CEO on June 17. For further information on his background and career, please refer to the June press release.

"I look forward to working with ABB’s strong team to deliver continued profitable growth against our strategy and create long-term value for our customers, employees and shareholders," Spiesshofer said. “In these challenging economic times, we will focus as a team relentlessly on customer satisfaction, quality and execution.”

Brief Profile of Ulrich Spiesshofer:

Born March 26, 1964 – German citizen

Education

1991   PhD in Economics, University of Stuttgart, Germany

1989   Masters Degree in Business Administration and Engineering, University of Stuttgart, Germany

Professional experience:

ABB   2013 to date   CEO of ABB Group worldwide – ABB Ltd, Switzerland

2010 – 2013   Head of Discrete Automation and Motion division Member of the Group Executive Committee, ABB Ltd, Switzerland

2005 – 2009   Head of Corporate Development Member of the Group Executive Committee, ABB Ltd, Switzerland Roland Berger Strategy Consultants

2002 – 2005   Senior Partner, Global Head Operations Practice – Roland Berger AG, Switzerland A.T. Kearney

2001 – 2002   Managing Director – A.T. Kearney International AG, Switzerland, Member European Operating Committee

1999 – 2001   Leader Asian Operations Practice – A.T. Kearney Pty. Ltd., Australia

1996 – 1999   Member Australian Leadership Team – A.T. Kearney Pty. Ltd., Australia

1991 – 1996   Associate/Manager/Principal – A.T. Kearney GmbH, Germany Teaching

1989 – 1992  Lecturer in business management, University of Stuttgart and Berufsakademie, Stuttgart, Germany

Endress+Hauser to acquire Kaiser Optical Systems

Endress+Hauser has announced the acquisition of US company Kaiser Optical Systems, Inc. The Swiss process automation specialist has signed an agreement with parent company Rockwell Collins. The transaction is expected to be completed in the next months.

Kaiser Optical Systems is a world leader in spectrographic instrumentation and applied holographic technology. Principal products include Raman sensors and instrumentation, advanced holographic components for spectroscopy, telecommunications, astronomy and ultra-fast sciences, and display systems for aircraft. The company's main offices and manufacturing are located in Ann Arbor, Michigan.

"With the acquisition of Kaiser Optical Systems we are expanding our range in the field of advanced analytics for liquids, gases and solids. In addition we are strengthening our optical measurement technology and manufacturing competence," said Klaus Endress, CEO of the Endress+Hauser Group. Kelly Ortberg, President and CEO of Rockwell Collins, added: "This transaction provides Kaiser Optical Systems with the resources and expertise better suited to the industries it serves, and helps Rockwell Collins keep its focus on strengthening the company's core communication and aviation electronics business for commercial and military customers."

Advanced technology offers plenty of opportunities:

Klaus Endress emphasized the strategic dimension of the acquisition. "The Raman technology expands our offering for customers in core industries," he said. "It plays an important role in many future key markets such as power & energy and biotechnology as well as laboratory applications – a significant and growing business." The technology helps customers to improve their processes and reduce costs through advanced and low maintenance spectroscopy. Klaus Endress expects synergies in worldwide sales and services. "Additionally, the opportunities offered by Raman technology are far from being exhausted."

Rockwell Collins:

Rockwell Collins, Inc (NYSE: COL) is a pioneer in the development and deployment of innovative communication and aviation electronic solutions for both commercial and government applications. The expertise in flight deck avionics, cabin electronics, mission communications, information management, and simulation and training is delivered by approximately 19,000 employees, and a global service and support network that crosses 27 countries.

AMEC wins brownfield modifications contract for TAQA's Cladhan field development North Sea

AMEC, the international engineering and project management company, has been appointed by TAQA's UK business, to undertake the engineering, procurement and construction of modifications to the Tern oil production platform to accommodate a new subsea tie-back to the Cladhan field in the northern North Sea. AMEC will also provide commissioning support.

The contract award follows AMEC's completion of the front end engineering design (FEED) for the project. Work begins immediately and will run through to December 2014. It is part of a long-term engineering framework agreement with TAQA, which began in 2012.

"I'm delighted that we have won the opportunity to demonstrate to TAQA our brownfield engineering capability and we look forward to building a successful relationship with them" said Alan Johnstone, Managing Director of AMEC's Europe brownfield and asset management business.

AMEC has recently opened two new offices in Aberdeen to support this award and growth across existing contracts. The new offices will accommodate around 300 people. The Cladhan development is the third field that TAQA has developed and the largest project to date. Cladhan is expected to produce over 17,000 barrels of oil equivalent per day (boe/d) initially with first oil expected early 2015.

 

 

Foster Wheeler awarded Feasibility Study by Statoil for Mongstad Refinery Upgrade in Norway

Foster Wheeler AG (Nasdaq: FWLT) announced today that a subsidiary of its Global Engineering and Construction Group has been awarded a contract by Statoil ASA to undertake a feasibility study for the upgrade of Statoil’s Mongstad Refinery in Norway.

The Foster Wheeler contract value was not disclosed and was included in the company’s second-quarter 2013 bookings.  Foster Wheeler’s scope includes performing high-level process simulations to identify the optimum technical solution for the refinery upgrade, and production of a detailed study report and a total installed cost estimate. The study is scheduled for completion at the end of 2013.

The refinery upgrade project by Statoil aims to address crude feedstock flexibility requirements and to increase diesel production, including the production of ultra-low-sulfur diesel. The upgrade is expected to include the installation of a new vacuum distillation unit, together with new diesel hydrotreaters.

“This award strengthens Foster Wheeler’s excellent relationship with Statoil,” said Umberto della Sala, President and Chief Operating Officer of Foster Wheeler AG. “We will apply our in-depth refining expertise and technology know-how to assist Statoil in developing a viable plan for implementing its refinery upgrade, in line with its objectives.”

Asset Owner Representative, Strategy Manager Lars Thorstholm, Statoil ASA said, "This is an important project for Statoil to improve the competitiveness of the Mongstad Refinery. Statoil are looking forward to benefitting from Foster Wheeler's comprehensive refining and hydrocarbon process technology expertise."