Comet Group divests ebeam lamps business to Tetra Pak
The Comet Group has signed an agreement to sell the ebeam lamps business to Tetra Pak in line with the focus strategy announced in August 2019. Comet focuses on its core businesses of plasma control and x-ray.
Under the agreement, Tetra Pak Inc. acquires the rights to the ebeam technology along with the development and manufacturing resources for the ebeam lamps. Tetra Pak retains 28 ebeam employees of the acquired business. Production of the ebeam lamps will continue to be sited at Comet AG’s manufacturing facility in Flamatt, under a rent agreement between Comet and Tetra Pak.
With the sale of the ebeam lamps business to Tetra Pak, Comet has reached a key milestone in its company strategy. “We can now fully focus our talent and resources on our core competencies in RF plasma control and x-ray technologies that are instrumental in creating a safer, more secure, more efficient and sustainable world of manufacturing, communication and mobility,” says Kevin Crofton, Chief Executive Officer of the Comet Group. “We are pleased that we have found a good new "home" for the ebeam lamps business.“
For Tetra Pak, the acquisition is central to its long-term strategic goals in sustainability: “Integrating the development and manufacturing of the eBeam in-house will enable us to further optimise the technology for packaging and enhance our low-carbon circular-economy packaging equipment portfolio”, comments Laurence Mott, Executive Vice President, Development & Engineering at Tetra Pak.
Both parties aim to finalize the deal until end of the year. Comet expects the sale will slightly increase the EBITDA margin in the current year.