Business |
SICK strengthens position in South America
The SICK group, a producer of sensors and sensor solutions for industrial applications, has completed the takeover of its Chilean joint venture SICK SpA, effective January 2019.
The outstanding 50% of shares in the joint venture, initiated in June 2014, have been transferred from the owning family Schädler to the SICK Group. This means that SICK becomes the sole owner of SICK SpA as a result of this takeover, and thus enhances its position on the South American market. Former co-owner and Managing Director Anton Schädler will continue to lead the national company SICK SpA and its 45 employees at the Santiago de Chile site, as well as the branch office in Bogotá, Colombia.
“With the acquisition of the outstanding 50 percent of shares in this successful joint venture, SICK is able to strengthen its position in South America for the long term,” explains Markus Vatter, Chief Financial Officer of SICK AG, in a press release.
“We look forward to continuing the success story of the last 30 years with a highly experienced management team in Chile, and offering SICK’s customers in South America added value with regional market competence and a high service orientation,” Vatter adds.
