Endress+Hauser and SICK announce establishment of joint venture
The two sensor technology companies Endress+Hauser and SICK are further deepening their cooperation and founding a joint venture. According to a press release, the two companies are aiming for a strategic partnership for SICK's process automation business field and have signed a joint declaration of intent to this end. By joining forces, the companies want to support their customers in important topics such as energy and resource efficiency as well as climate and environmental protection.
Process analysis and gas flow measurement technology in the focus of the joint venture
The aim of the partnership is to expand Endress+Hauser's product range to include process analysis and gas flow measurement technology from SICK. The two companies intend to set up a joint venture for the production and further development of SICK process technology. The sales and service teams of SICK's Process Automation business segment are to become part of the global Endress+Hauser sales network. SICK currently employs a total of more than 1,400 people in 28 countries in the Process Automation business segment, generating sales of more than EUR 350 million a year.
Previously project-related cooperation to be expanded
The two companies' offerings in process technology are also complementary. SICK's process analysis and gas flow measurement technology is used in particular in waste incineration plants, power, steel and cement plants, in the oil and gas industry, in chemical and petrochemical plants, and in shipbuilding - for example, for measuring emissions during flue gas cleaning or for gas flow measurement. The companies had already worked together repeatedly on orders, projects and customers.
Both shareholder families, as well as the respective supervisory bodies of SICK and Endress+Hauser, support the plan for a strategic partnership. On the basis of the Memorandum of Understanding, the experts on both sides are now examining, within the framework of due diligence, how the cooperation can be realised and led to success. The contract is expected to be signed in the first quarter of 2024; closing is planned for the middle of next year.
Joining forces for process automation
"Our strategic partnership is about mutual benefit on many levels. We want to seize joint opportunities by joining forces. In doing so, we are acting from a position of strength: SICK and Endress+Hauser are very successful on their own today. We are convinced that together we will be even more successful. Together we can support our customers even better and accompany them in the sustainable transformation of the process industry," explained Matthias Altendorf, CEO of the Endress+Hauser Group.
Dr. Mats Gökstorp, Chairman of the Executive Board of SICK, said: "With this strategic partnership, Endress+Hauser and SICK are breaking new ground. The trigger and momentum for this venture is the dynamics of our market environment in process automation due to the advancing decarbonisation of industry. Together we can make better use of the great opportunities and develop the best solutions for and with customers. Our long-standing partnership ties and the overlaps in the corporate cultures of the family-owned companies play an important role alongside the focus on technology and people. Successful joint customer projects with Endress+Hauser already confirm the good cooperation."
Further information is available at www.endress.com and www.sick.com.