Metall Zug Group consummates acquisition of Haag-Streit Holding AG
OREANDA-NEWS. The Metall Zug Group has completed the acquisition of 70% of Haag-Streit Holding AG, headquartered in K?niz, Switzerland.
Haag-Streit develops, produces and distributes high-quality products and services for diagnosis and surgery, mainly in the fields of ophthalmology and surgical microscopy. Following completion of the acquisition on February 28, 2018, Haag-Streit will form the fourth Business Unit Medical Devices of the Metall Zug Group. Like the other Business Units of the Metall Zug Group, the company will have its own market presence and will retain its own autonomous brand.
In the coming years, Metall Zug will invest in organic growth initiatives and the expansion of structures at Haag-Streit, as well as seeking growth through acquisitions.
As announced in the press release on the acquisition of Haag-Streit of December 22, 2017, the remaining 30% stake in Haag-Streit Holding AG will continue to be held by family shareholders and will be represented on the Board of Directors of Haag-Streit Holding AG by Mr. Christoph Haag.
The Haag-Streit Group comprises more than twenty companies in Europe, America and China. Its head office is in K?niz, Switzerland. In addition to Switzerland it has further production facilities in Germany, the United Kingdom and the USA. Around 900 employees work in its various segments: ophthalmology, pulmonology, microsurgery, optics and electronics. They develop and produce high-quality products and services that are distributed in over 150 countries by the Group’s own sales companies and more than 65 independent distributors.
Metall Zug is an industrial group of companies headquartered in Zug, comprises four Business Units with the acquisition of the Haag-Streit Group, and has a workforce of around 5,000 employees. The Household Appliances Business Unit includes the Swiss market leader V-ZUG AG with its foreign subsidiaries and V-ZUG K?hltechnik AG, SIBIRGroup AG and Gehrig Group AG. The Infection Control Business Unit is represented by the Belimed Group, and the Schleuniger Group makes up the Wire Processing Business Unit. The Haag-Streit Group forms the new Medical Devices Business Unit. The holding company Metall Zug AG is listed in the Swiss Reporting Standard of SIX Swiss Exchange in Zurich (type B registered shares: securities number 3?982?108, ticker symbol METN).