Altdorf, Switzerland - Datwyler Holding Inc. has sold its civil engineering business in Germany to the existing management as part of a recent strategy to focus on high-growth markets.
The transaction includes Waltershausen-based Datwyler Sealing Technologies Deutschland GmbH along with associated operational real estate, the Swiss group announced 29 April.
The divested business, it said, "combines the civil engineering with elastomer profiles for applications in tunnels, underground construction and track superstructures."
The unit employs 180 people and generates annual sales of CHF40 million (€38 million).
Datwyler did not disclose further details about the transaction which is expected to be completed 4 May.
The move follows an earlier decision by the Swiss polymer group to centre its focus on “fast-growing, high-margin sealing business” for attractive global markets.
Such markets, Datwyler said, include healthcare, mobility, oil & gas, food & beverage and general industry.
As part of the strategy, the group sold its Distrelec and Nedis distribution businesses to German investment firm Aurelius in March.