Strategic reorientation with "Zeiser GmbH" – New Head of the Security Printing Division
Zurich, October 1, 2018 – Swiss industrial and trading group Orell Füssli has successfully completed the sale of parts of the operations of its Atlantic Zeiser subsidiary. The closing of the sale of parts of Atlantic Zeiser’s operations to Coesia S.p.A. in Bologna (IT) on September 30, 2018, has completed the strategic reorientation of Orell Füssli’s Industrial Systems Division. The company trading under the new «Zeiser» brand name as from October 1, 2018, and based in Emmingen-Liptingen (DE) will focus on its offering of products and services in the fields of banknote serialisation and the individualisation of security documents. Thorsten Tritschler has been appointed as the new Managing Director of Zeiser GmbH; he was a member of the executive board of Atlantic Zeiser GmbH and has many years of experience in the security printing supplies industry.
As a consequence of the sale of parts of Atlantic Zeiser’s operations and the reorientation of the Industrial Systems Division, exceptional charges will have an impact on the net income of the Orell Füssli Group. Total net expenses amounting to CHF 67 million are expected, the majority affecting non-operating income and a substantially smaller portion as exceptional costs affecting EBIT at Industrial Systems Division. In non-operating income some CHF 42 million is attributable to writing off goodwill originally offset against equity and some CHF 12 million to writing off previously accumulated currency translation differences. The sale will have a positive impact on liquidity on the order of single-digit millions.
Orell Füssli has appointed a new Head of the Security Printing Division. Chemistry PhD Michael Kasch will take office as the new Managing Director of Orell Füssli Security Printing Ltd on April 1, 2019. Dr Kasch has many years of management and industrial experience in security printing and was most recently Regional Business Director at a supplier of security printing inks and security solutions. He will succeed the present co-heads of the division, Philipp Seewer und Dr Dieter Sauter. Mr Seewer will stay in the company and will manage the direction Operations within the Division Security Printing. Mr Sauter has decided to leave the company. The Board of Directors and the Executive Board of Orell Füssli Holding Ltd wish to thank Mr Sauter for his tireless efforts on behalf of the company in recent years.
CEO Martin Buyle will head the Security Printing Division ad interim until Dr Michael Kasch takes up his position.