Sick and Endress+Hauser are joining forces
27.10.2023 - Both companies sign a joint declaration of intent for a strategic partnership in the “Cleaner Industries” area.
The German sensor company Sick and the Swiss measurement technology specialist Endress+Hauser have signed a joint declaration of intent for a strategic partnership in the “Cleaner Industries” area. Both companies see great opportunities in contributing together to a sustainable energy supply and supporting customers in the process industry along the entire value chain in achieving their sustainability goals. Companies want to reduce their use of energy and resources and switch to non-fossil energy sources and raw materials in the long term. The new process technologies required for this must be monitored and controlled by intelligent sensors and systems.
Sick and Endress+Hauser are reacting to the market dynamics in process automation and would like to explore new ways of working together in the future. Sick AG and Endress+Hauser AG have therefore held intensive discussions about a strategic partnership and signed a joint declaration of intent (“Memorandum of Understanding”) in order to pool competencies in process automation. The aim is to jointly market and further develop Sick's analytical measurement technology and technologies for gas flow measurement. This will provide customers with even better support along the entire value chain on future issues such as climate and environmental protection, the energy transition and the hydrogen economy.
It is intended that both companies will hold 50 percent of the shares in the joint venture and have equal representation in management. Endress+Hauser wants to invest financially, contribute technological expertise and open new sales channels globally. Sick is to bring the product-generating units of its “Cleaner Industries” division, with several development and production sites in Germany, into the joint venture. The sales and service employees of the global sick sales and service units with a focus on “Cleaner Industries” are to be transferred to the Endress+Hauser sales centers. This is now followed by a phase of careful examination of the relevant business areas as well as the contract design for both partners. This is planned to be completed in the first quarter of 2024 with the official signing of the agreement on the business combination and associated transactions ("signing") by both partners. Completion ("closing") is scheduled for mid-2024.