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Oc Oerlikon Corporation Pfaeffikon AG Sells Fibers Businesses To Jinsheng Group

Thursday, 4 Jul 2013 12:45am EDT 

Oc Oerlikon Corporation Pfaeffikon AG announced the closing of the sale of its natural fibers businesses to the Jinsheng Group of China. The agreement to divest the Natural Fibers and Textile Components Business Units was signed on December 3, 2012. Oerlikon expects from the transaction a net cash impact of around CHF 470 million after transaction and tax costs. Oerlikon will focus on the manmade fiber business and has renamed the Textile Segment the Manmade Fibers Segment.