Bucher Hydraulics, a division of Bucher Industries, is acquiring the mobile electric drive technology business of Lenze Schmidhauser in Romanshorn. Bucher is thus focusing more strongly on the trend towards electric mobility.
In addition to the regular agenda items, the annual general meeting approved the re-election of all the board members and the chairman, the election of Valentin Vogt as a new member of the board, and the election of the members of the compensation committee. It also approved amendments to the articles of association, including changes relating to implementation of the ordinance against excessive compensation in listed stock corporations.
In an international call for tenders put out by the city of Moscow, Bucher Municipal has again won a major order, on this occasion for 609 sweepers, 275 snowploughs and 163 spreaders for winter maintenance. The order is worth a total of CHF 53 million. The order will be processed in the course of the current business year.
In the 2013 business year, Bucher Industries increased sales by 3% to CHF 2 691 million and operating profit by 24% to CHF 287 million. The operating profit margin reached an outstanding 10.7%. Profit for the year rose by 26% to CHF 196 million. The board of directors is proposing a dividend of CHF 6.50 per share to the annual general meeting of 10 April 2014.
Bucher Industries and the owners of Montana Indústria de Máquinas S/A (“Montana”), one of the leading self-propelled sprayer manufacturers in Brazil, signed a principal understanding for an acquisition of Montana by Bucher’s Kuhn Group division.
Bucher Industries increased its order intake by 9% to CHF 2 718 million in 2013. Sales reached CHF 2 691 million, 3% above the high level in 2012. Compared with the previous year, the Group expects 2013 to bring a substantial increase in operating profit and profit for the year.
Michel Siebert, member of group management and division president of Kuhn Group, will retire at the end of September 2014. The board of directors of Bucher Industries has nominated Thierry Krier, the long-term president and CEO of Kuhn North America, as his successor. Thierry Krier will become a member of group management and assume the role of division president of Kuhn Group effective 1 October 2014.
The board of directors of Bucher Industries will submit a proposal to the annual general meeting on 10 April 2014 to elect Valentin Vogt to the board. Stefan Düring is to replace Jean-Pierre Bernheim as a member of group management and president of the Bucher Specials segment with effect from 1 January 2014.