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PRESS RELEASE: Jenoptik strengthens its digital camera business: The Swiss company SINAR AG is now a 100 percent subsidiary of the technology group.
Feuerthalen, Jena, 24. April 2007 - The acquisition of the remaining 49 percent of the shares in SINAR AG is a significant step in the expansion of the digital camera business.
The Jenoptik Group has purchased the remaining 49 percent of the shares in SINAR AG, making it a 100 percent owned subsidiary of the technology group's Laser & Optics division. The Board of Directors of SINAR AG approved the share acquisition on Thursday last week. Through this, the traditional company with 50 employees and headquarters in the Swiss town of Feuerthalen has become an integral part of the digital imaging activities of the Jena-based technology group. SINAR will market professional cameras and camera modules, both its own and those developed by Jenoptik in conjunction with partners, on a worldwide basis. The 49 percent stake was previously held by the Koch founder family. The contracting parties have agreed that the details of the purchase modalities and the purchase price are to remain confidential.
The aim of the full takeover is to position SINAR as a premium provider amongst the world's leading suppliers for professional digital photography and to significantly expand the market share in the premium segment for digital medium format cameras.
Volume delivery of the new HY6 medium format camera to start in June.
Global volume supply of the medium format camera developed by Jenoptik in conjunction with partners is to start in June this year as Sinar Hy6-system. SINAR AG will be responsible for worldwide distribution of the new medium format camera which was awarded top marks on its initial launch at Photokina 2006 in Cologne. The HY6 received the Photokina Star 2006 as the most outstanding new product presentation. It is currently the only state-of-the art 6X6 medium format camera and has already been prepared for future high-resolution sensor formats. The Sinar Hy6 allows for both digital and analogue photos as well as free choice of the formats 6X6 and 4.5X6. The HY6 has been designed as an open system and allows for the use of digital backs of various manufacturers.
Wolfgang Keller has been the new CEO of SINAR AG since April 2007.
The driving force behind SINAR and its integration into the Jenoptik Group since April 1 this year has been Wolfgang Keller who took over the management of the business from Alain Wacker as Chief Executive Officer (CEO). Wolfgang Keller's main tasks in his new role, in addition to the operational business, will be the further integration of SINAR AG into the activities of the Jenoptik Group in the area of digital imaging. Before joining SINAR the 48 year-old qualified engineer was responsible for the operational business of Leica Camera AG, Solms as Chief Operating Officer. His career path has included periods, amongst others, as part of the management of Schleicher Electronic GmbH & Co. KG, Berlin as well as on the Management Board of BERU Electronics GmbH, a BERU AG company.
Jenoptik specializes in photonics and mechatronics technologies, and numbers among the technological and market leaders in selected sectors. Jenoptik places its focus on its core field of competence, putting light to use as an industrial tool and is active in the four areas of lasers, optics, sensors, and mechatronics. In 2006 approx. 3,200 employees of the Jenoptik Group generated sales of 485 million euros and an EBIT of about 38 million euros.
In 2006 digital imaging systems and technologies posted sales of 38.4 million euros, accounting for approx. 8 percent of total sales of the Jenoptik Group. Over and beyond professional photography Jenoptik is also active in the area of scientific photography. Through its subsidiary Robot Visual Systems, based near Düsseldorf, Jenoptik has been instrumental in and successfully implemented the switchover from wet film to digital technology for traffic safety technology (camera system for traffic monitoring) over the last two years. Thanks to its state-of-the-art digital cameras specially developed for use in the traffic area, Jenoptik has become one of the world's leading providers.
(First posted on Wednesday, April 25, 2007 at 17:43 EDT)