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Video: SLM Solutions Decides To Merge With GE Aviation
GE Aviation, manufacturer of aircraft engines, has announced its decision to make a voluntary takeover bid for all outstanding shares in SLM Solutions Gruop AG. GE Aviation is part of the US group General Electric. The offer is to be carried out by GE Germany Holdings AG, a subsidiary of GE Aviation. GE Aviation is offering shareholders a cash sum of EUR 38 per share. The Executive Board and the Supervisory Board of SLM intend to support the offer, subject to the offer review.
The headquarters and workforce are to be retained
Both companies welcome the planned merger as an opportunity for their customers, employees and shareholders. Hans-Joachim Ihde, founder and chairman of the supervisory board of SLM Solutions, explains: “General Electric has accompanied us as a user and customer from the very beginning. They have taken on a pioneering role in aerospace technology and have recognized the advantages of selective laser melting - for example in the weight of the components saved. They are very familiar with our multi-laser technology.”
As part of the merger agreement concluded on September 6, 2016, GE Aviation has stated that it will continue to promote the existing corporate culture of SLM Solutions. In addition to the commitment to maintain and expand the headquarters in Lübeck and the company's other locations, this also includes a commitment to the workforce and existing management. In addition, GE Aviation plans to support the growth of the company, for example by improving the worldwide distribution of its products and services. The existing customer base should be preserved and expanded. The further development into a provider of solutions for additive manufacturing is a strategic step for GE Aviation on the way to a digital industrial company.
Developing future technologies together
Since the IPO in 2014, SLM Solutions has been pursuing a three-pillar strategy that, in addition to expanding its worldwide sales and service network, also focuses on research and development and the further development of an integrated solution provider. Since the beginning of the year, the company has entered into strategic partnerships in the areas of consumables and software, which are intended to contribute to the spread of additive manufacturing processes in industry and to improve user-friendliness.
The CEO Dr. Markus Rechlin explains the advantages of a merger: “GE Aviation is a strong partner with technological expertise. We want to further develop our future technology together at the Lübeck location and position our company more broadly as part of a large international group. We think that the development of SLM Solutions to become a system provider is now accelerating."
The Management Board and the Supervisory Board of SLM Solutions will comment on the offer in detail in accordance with their legal obligations upon receipt of the offer document. Subject to this review, the Management Board and the Supervisory Board currently intend to support the takeover offer. If the takeover bid is successful, 31.5% of the company's shares currently held by existing shareholders will be transferred to GE Aviation. The implementation of the takeover offer will be subject to a few customary market conditions, in particular the minimum acceptance threshold of 75% and approval by the responsible antitrust authorities. (kj)