Monday, September 25, 2006
"Leica Camera AG, Solms, takes over 51% of the shares of Sinar AG, Feuerthalen/Switzerland, from JENOPTIK Laser, Optik, SystemeGmbH, Jena ("JENOPTIK"). JENOPTIK and Leica Camera AG have signed corresponding acquisition and transfer contracts on September 25, 2006. Confidentiality was agreed concerning the transfer price.
The existing technical cooperation between JENOPTIK and Sinar AG concerning digital camera backs will be continued.
Sinar AG serves professional photographers with leading solutions in medium and large format cameras, both with analogue and digital technology. Leica Camera AG will continue and develop the Sinar business with the Sinar brand and company structure, based on the shared values of excellence and innovation.
Both companies will benefit from synergies in technical collaboration as well as marketing and sales. Leica Camera AG is confident that the acquisition will bring positive developments for customers, employees as well as shareholders of both companies. This is a first step on the strategic path towards growing the business of Leica Camera AG"
Press release here
Posted by David Emerick at 1:06 PM