MWH Barcol-Air and Walter Meier to Cooperate in Cooling Ceiling Business
Europe's leading specialist in cooling ceilings, MWH Barcol-Air, is taking over Walter Meier's cooling ceiling business. In return, Walter Meier will invest in MWH Barcol-Air by means of a capital increase.
"The joint venture represents an optimal combination of our respective strengths," is how MWH Barcol-Air CEO Marco Billeter sums up the strategy. MWH Barcol-Air has been operating in the cooling ceiling sector for over thirty years and is a real technological pioneer with a great capacity for innovation. The integrated value added chain emanating from its in-house production of ceiling panels constitutes another of MWH Barcol-Air's strengths. Walter Meier has established intercontinental sales structures, most notably in air humidification and in chilled water generation, which are to be used as a platform by MWH Barcol-Air.
To allow MWH Barcol-Air to expand more rapidly and increase its innovation rate still further, Walter Meier will finance a capital increase and, as a result, in the future hold a minority stake and a seat on the Board of Directors. Silvan G.-R. Meier, CEO of Walter Meier, comments, "With this financial commitment we are underlining our enthusiasm - dating back several years - for cooling ceiling technology. We are delighted that we are now able to share this with the market leader."
Cooling ceiling systems, and particularly the new hybrid cooling ceiling systems, are operated at high median temperatures compared with other technologies and allow rooms to be cooled in an extremely energy-efficient manner. The consistent use of thermal radiation also brings a unique sense of comfort to the workplace. The increase in the ability to concentrate and in performance is greater when using cooling ceilings than with any other technology.
MWH Barcol-Air was founded in 1979, and with a workforce of around 100 people it is now one of the leading providers of economical and innovative cooling ceiling systems, generating annual sales of around CHF 70 million. Besides the development, design, manufacturing and assembly of complete ceiling and wall systems for the cooling, heating and ventilation of interior spaces, MWH Barcol-Air also designs customized components for air distribution. The company manages indoor climate projects from its own branch offices or through subsidiaries in Switzerland, Germany, Italy and France. MWH Barcol-Air also has partnerships with highly qualified indoor climate specialists in many other countries.
Further information
Walter Meier: Silvan G.-R. Meier, Chief Executive Officer
Telefon +41 44 806 49 00, corporate.communications@waltermeier.com
MWH Barcol-Air: Marco Billeter, Chief Executive Officer
Telefon +41 58 219 40 00, mb@mwh.ch
Walter Meier Key dates
August 16, 2011, Half year report 2011
December 31, 2011, End of business year 2011
February 21, 2012, Media and Financial Analyst's Conference
March 14, 2012, Annual Shareholder's Meeting
Walter Meier is an international climate and manufacturing technology group. The company was founded in 1937 in Zurich (Switzerland) and today does business in more than 70 countries. Its 1600 employees generate sales of approximately CHF 650 million. Walter Meier puts great emphasis on customer-specific solutions and comprehensive support services. Shares in Walter Meier are listed on the SIX Swiss Exchange (symbol WMN).
