The acquisition of Swiss silicon thin film equipment supplier Oerlikon Solar by Tokyo Electron has resulted in sales of approximately US$3.1 million in 2012 up from US$2.9 million in 2011.
The sale of what is now TEL Solar led to a net inflow of CHF231 million (US$245 million) in cash for the Oerlikon Group. The company said the sale substantially reduced the complexity of the Oerlikon portfolio and paved the way for an enhanced focus on its high-growth and high-margin businesses.
The company experienced an EBIT of CHF421 million (US$447 million) representing an EBIT margin of 14.5%. This profitability level set a new record in the company’s history, which Oerlikon said was driven by the strong performance of the textile and coating segments of its business and significant improvement in the drive systems segment. Despite a challenging global economic environment, Oerlikon was able to increase sales from continuing operations by 6.4%.