Switzerland-based Datwyler Holding has issued CHF150 million bonds, under the lead of the Zürcher Kantonalbank, to finance the growth strategy in its two Technical Components and Sealing Solutions Divisions. Some of the bond proceeds will be used to partly repay bank loans Datwyler had raised to finance the two latest acquisitions of Nedis (3 September 2012) and of Zhongding and Hankook (12 October 2012).
Datwyler is also consolidating its focus on high-growth, high-margin businesses. To achieve this, the present Sealing Technologies and Pharma Packaging Divisions will be combined to form the new Sealing Solutions Division, while the current Cabling Solutions Division will be sold to Pema Holding (majority shareholder of Dätwyler Holding.) (RJA)