Seeking to continue the process of strategic realignment being pursued under the banner ‘More Light,’ the Supervisory Board of Jenoptik AG gave the green light on 29 July to beginning a sales process for the Vincorion division, which runs the Group’s mechatronics business.
“Having obtained the approval of the Supervisory Board and completed the necessary preparatory work, we can now start the project,” commented the Chairman of the Executive Board, Dr Stefan Traeger.
Proceeds will be used to expand the company’s international reach and vertical integration, particularly in the strategic growth regions of the Americas and Asia. “We want to optimise the product portfolio and gain access to new customers and markets through bolt-on and transformatory acquisitions […] the mechatronics business operated under the brand name of Vincorion will then have the chance to grow successfully with a new owner,” added Traeger.
In a restructuring process last year, the Vincorion brand was launched for the mechatronics business, while photonics business, previously embodied in the Defense & Civil Systems segment, was transferred to Jenoptik’s new Light & Optics division.
Vincorion has positioned itself as a specialist for custom solutions in challenging, strictly regulated markets. With a product range serving the military, aviation, and rail industries, some 790 employees generated revenue of €166 million in 2018. Over the past fiscal year, the mechatronics business thus contributed around 20% of Group revenues.
Following his current appointment, which runs until June 2020, Dr Traeger (51) will remain Chairman of the Executive Board of the Jenoptik Group for a further five years. “Over the last few years, under the management of Dr. Stefan Traeger, Jenoptik succeeded in combining the Group’s transformation into a technology group focused on photonics with profitable growth and successful acquisitions. Continuity in the Group’s management by Dr. Traeger and CFO Hans-Dieter Schumacher creates the basis to consequently pursue the launched strategy for more growth and profitability”, says Matthias Wierlacher, Chairman of the Supervisory Board.