Start of the joint venture between Belimed Infection Control, Belimed Life Science and Steelco under the name SteelcoBelimed

Ad hoc announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange

Zug, June 10, 2024 – The establishment of the joint venture between Belimed Infection Control, Belimed Life Science and Steelco was completed. SteelcoBelimed is to become a leading provider in the market and to grow profitably in the coming years. Metall Zug expects the transaction to result in a one-off and EBIT-impacting book gain in the range of CHF 65-70 million.

After the respective relevant authorities granted their clearance for the joint venture between Metall Zug and Miele, the transaction was closed on June 7, 2024. Metall Zug has contributed its Infection Control Business Unit and the Belimed Life Science Group, and Miele has contributed its Steelco Group into the joint venture. The new company, based in Zug, will commence operations under the name SteelcoBelimed AG. The joint venture will operate uniformly under this brand in the future (see https://www.steelcobelimed.com). The accumulated net sales of the former companies amounted to around CHF 487 million in 2023 and SteelcoBelimed currently employs around 2,100 employees. Metall Zug holds 33% and Miele 67% of SteelcoBelimed.

SteelcoBelimed combines the strength, people, know-how and resources of the joined companies in order to create an innovative player in the hospital/Infection Control segment and in the pharma/Life Science industry. The new company will benefit from Steelco's fast innovation cycles and Belimed's premium portfolio and digital solutions, enabling it to offer a broader product range and to focus on efficiency. SteelcoBelimed's products will be manufactured within an international production network with sites in Riese Pio X and Cusano (Italy), Sulgen (Switzerland) and Grosuplje (Slovenia). SteelcoBelimed aims to become the most innovative, reliable and customer-centric supplier in the field of Infection Control and Life Science. The competitiveness of the joint company in Europe, America and Asia will improve significantly and SteelcoBelimed will emerge as a global leader in the industry. "The joint venture SteelcoBelimed will raise the companies involved to a new level of global competitiveness and lead Belimed together with Steelco into a growth-driven and profitable future", emphasizes Matthias Rey, CEO of Metall Zug and Member of the Board of Directors of SteelcoBelimed.

Christian Kluge, Senior Vice President Business Unit Professional at Miele, is Chairman of the Board of Directors and CEO of SteelcoBelimed. The further members of the Board of Directors are Martin Wipfli and Matthias Rey from Metall Zug and Stefan Breit and Axel Kniehl from Miele. Operational management is carried out by a mixed team with representatives from Belimed, Steelco and Miele. In addition to Christian Kluge as CEO, Richard Hämmerli from Belimed Infection Control acts as CFO. Michael Krimpmann from Miele is in charge of the Integration division, Alessandro Caprara from Steelco heads the Infection Control Business Unit, and Ralf Kretzschmar from Belimed Life Science is in charge of the Life Science Business Unit.

Belimed Infection Control and Belimed Life Science are fully consolidated in the consolidated financial statements of the Metall Zug Group until the closing. After that, Metall Zug AG's share of the consolidated net result of the SteelcoBelimed Group will be reported in the financial result of Metall Zug AG. Metall Zug expects the transaction to result in a one-off and EBIT-impacting book gain in the range of CHF 65-70 million. 

About the Metall Zug Group
Metall Zug is a group of industrial companies headquartered in Zug. The Group has around 1,000 employees and comprises three Business Units:

  • Medical Devices (Haag-Streit Group)
  • Technologycluster & Infrastructure (Tech Cluster Zug AG and Urban Assets Zug AG)
  • Others (Gehrig Group AG and Metall Zug AG)

In addition, Metall Zug holds anchor participations in the listed V-ZUG Holding AG (30%), the listed Komax Holding AG (25%) and SteelcoBelimed AG (33%), a joint venture with Miele. 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 3982108, ticker symbol METN).

Legal Notes
The expectations expressed in this announcement are based on assumptions. Actual results may vary from those anticipated. This announcement is published in German and English. The German version is binding. Metall Zug AG processes personal data in accordance with its privacy statement available under: https://www.metallzug.ch/en/datenschutzerklaerung.

Key dates 
August 19, 2024Publication of Half-year Report 2024
March 24, 2025Publication of Annual Report 2024 / Earnings Conference
May 9, 2025Ordinary Annual General Meeting of Shareholders 2025
August 25, 2025Publication of Half-year Report 2025
  
Further information 
Urs Scherrer
Chief Financial Officer
Phone: +41 58 768 60 50
Bettine Killmer
Head of Corporate Communications & IR
Phone: +41 58 767 60 50

or: investorrelations@metallzug.ch 

This announcement is available at https://www.metallzug.ch/en/medien/medienmitteilungen.


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