Companies pool their expertise in process automation
Both shareholder families and the respective supervisory bodies are behind the strategic partnership plan.
Two technology companies from Germany want to join forces to advance important topics such as energy and resource efficiency as well as climate and environmental protection. To this end, SICK and Endress+Hauser are endeavouring to form a strategic partnership for the process automation business field. The aim of the partnership is to expand Endress+Hauser's product range to include SICK's process analysis and gas flow measurement technology. The two companies intend to establish a joint venture for the production and further development of SICK process technology.
The sales and service teams of SICK's Process Automation business unit are to become part of the global Endress+Hauser sales network. SICK currently employs a total of over 1,400 people in 28 countries in the Process Automation business unit, generating annual sales of more than EUR 350 million.
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 emission measurement in flue gas cleaning or for gas flow measurement. The companies have already worked together time and time again on orders, projects and customers.
Focus on mutual benefit
Both shareholder families and the respective supervisory bodies of SICK and Endress+Hauser are in favour of the strategic partnership. Based on the Memorandum of Understanding, the experts on both sides are now conducting due diligence to examine how the collaboration can be realised and made a success. The contract is expected to be signed in the first quarter of 2024, with finalisation planned for the middle of next year.
“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 currently very successful on their own. We are convinced that we will be even more successful together. 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, CEO of SICK, said: “Endress+Hauser and SICK are breaking new ground with this strategic partnership. The trigger and momentum for this project is the dynamics of our market environment in process automation due to the ongoing decarbonisation of the industry. Together, we can better utilise the great opportunities and develop the best solutions for and with customers. Our long-standing partnership and the overlaps in the corporate cultures of the family-owned companies play an important role alongside our focus on technology and people. Successful joint customer projects with Endress+Hauser already confirm the good cooperation.”