Jenoptik to keep its mechatronic activities

The board came to the conclusion that the offers that has been submitted does not match the business potential, which VINCORION showed in the fiscal year 2019. Going forward, VINCORION will be operated as an independent investment of Jenoptik. Over the past months, the management of Jenoptik and VINCORION has been engaged in discussions with interested parties considering a potential sale of the mechatronical activities as a possible strategic alternative. Among other things, the aim was to realise an even higher value creation potential with a new owner compared to the growth perspectives within the Jenoptik Group. The process was started in July 2019 after Jenoptik had taken the decision to strengthen the focus on photonic business activities within the framework of its mid-term strategy. However, Jenoptik came to the conclusion that the offers submitted do not reflect the business potential of its mechatronic activities and decided to keep VINCORION in the portfolio as an independent investment. “In view of the excellent development of VINCORION in 2019 with a significant growth both in order intake and earnings the submitted offers did not meet our expectation. Considering the business development in the past year and the current project pipeline we are very confident that VINCORION will be able to achieve further increases in revenue and profitability in 2020. Nevertheless, we adhere to our defined strategy to strengthen our focus on the photonic core business. Thus, VINCORION will operate as an independent investment of the Jenoptik Group, decoupled from our photonic activities operating under the Jenoptik brand,” said Dr. Stefan Traeger, President & CEO of Jenoptik AG.