Bucher Municipal, a division of Bucher Industries, is acquiring 100% of the Chinese sewage tanker manufacturer Zynkon. This allows the division to access the growing Chinese market for sewage cleaning vehicles and to strengthen its presence in Asia.
Bucher Hydraulics, a division of Bucher Industries, has agreed to form a joint venture in China by acquiring an 80% stake in Wuxi Deli Fluid Technology Co., Ltd, the leading manufacturer of hydraulic pumps and compact power units in China. This acquisition will strengthen the division’s presence in China as well as its global product range. The transaction is yet to be approved by the Chinese authorities.
At today’s annual general meeting of Bucher Industries AG, the shareholders agreed to all the proposals put forward by the board of directors. The dividend is CHF 6.50 per registered share. 179 shareholders with voting rights were present and a total of 73.97% of the votes were represented.
Bucher Emhart Glass, a division of Bucher Industries, is taking over the remaining shares of its joint venture with Shandong Sanjin Glass Machinery Co., Ltd. The joint venture was formed in 2011 and is the market leader for glass forming machinery in China. The complete takeover emphasizes the importance of the Chinese market for Bucher Industries and Bucher Emhart Glass and will lead to a faster and more systematic development of the subsidiary.
In 2017, the performance of Bucher Industries was pleasing overall. Order intake surged 20% year on year, and sales rose by 11%. The operating profit margin improved by 1.5 percentage points to 8.6% due to higher sales and optimised structures. The profit for the year amounted to CHF 168 million. The board of directors is proposing a dividend of CHF 6.50 per registered share.
Bucher Industries posted strong order intake and higher sales for the 2017 reporting year. The markets in which the Group operates performed particularly well in the second half of the year. All divisions contributed to the increase in sales. For the reporting year 2017, the Group is forecasting an improved operating profit margin and a significant increase in group profit.
Christina Johansson, member of group management and CFO of Bucher Industries, has decided to leave the company and seek a new professional direction. Manuela Suter, Head of Controlling of Bucher Industries, will assume the position of CFO as a member of group management on 1 January 2018.
The markets in which Bucher Industries operates have enjoyed a recovery in the first nine months of the year. The Group experienced a significant growth in order intake, and sales have increased pleasingly, with all divisions contributing to the higher Group sales.