Heraeus Parts Ways With Dental Business
HANAU, Germany, April 4, 2013 /PRNewswire/ --
Heraeus, the Hanau-based precious metals and technology Group, is parting ways with its dental business. The entire business group will be acquired by Mitsui, a listed chemicals group with 13,000 employees worldwide. The acquisition is still subject to the approval of the antitrust authorities.
Heraeus Dental ranks among the top providers of dental solutions and materials, including precious metal alloys and materials for prosthetic treatments, teeth and materials for full prosthetic treatments, casting materials and compounds used for local anesthesia. Heraeus Dental has a total of 1,400 employees around the world. It reported revenues of €360 million for 2012. Customers include dentists and dental technicians as well as others in the dental field.
The introduction of new materials and treatments has fundamentally changed the Heraeus Dental business in recent years. In particular, the use of precious metals products, Heraeus' traditional core business, has dropped dramatically in dental medicine.Heraeus Dental responded to market demands by instituting efficiency programs. Besides, the business group expanded its activities in the business segment of digital prosthetics. Heraeus Dental is operating at a profit and well positioned for its future development. However, given the fundamental changes in this business area Heraeus has decided to sell the business group after a portfolio evaluation. Mitsui plans to expand its activities in this business area, which will give Heraeus Dental promising opportunities for development. "We see very good opportunities for long-term development for Heraeus Dental in this new constellation. This was a crucial factor for us in the decision to sell," said Jan Rinnert, Heraeus Board of Management. Mitsui intends to retain all the employees of the 20 worldwide locations with its acquisition of the business group. Heraeus Dental's existing management will remain intact and will continue the company's operations. Mitsui supports the current strategy of Heraeus Dental and intends to continue it. At this point in time, no further job cuts are planned beyond the measures that were introduced this past year. The headquarters of Heraeus Dental managing company Heraeus Kulzer GmbH will remain in Hanau.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts