Christ targets pharma acquisitions

Christ Water Technology AG intends to more than double sales from its Pharma and Life Science division over the next three years.

By the next Achema, sales in the Pharma/Life Science sector will reach Euro100 million, up from Euro 46 million at present, according to Dr Karl Michael Millaurer, CEO of the Swiss-based group. The expansion will be achieved in the main by acquisition, though also through organic growth.

The target marks a consolidation of Christ's strategy of moving away from its previous heavy dependence on the "crazy cycles" in the semi-conductor market. The Asian-centred industry now represents only around 30% of Christ's sales compared with some 80% just four years ago.

"The jewel of the group (now) is the Pharma and Life Sciences division, which is a clear leader in western Europe … and a very important element in our strategy going forward," Millaurer told PE at last month's Frankfurt show.

Christ's main focus is on providing turnkey and complete systems to the pharma sector, continued the CEO, who said, "Most of the technical problems have been resolved in pharma, it is now about lowering costs for our customers. The more we can standardise the more quickly we can deliver and facilitate customers' selection of products and technologies."

Christ aims to continue its strategy of finding strong local partners in specific market areas. For example, it has recently bought a company in Ireland and now has a very good position in the Irish market, the CEO said. The company will roll out this strategy internationally, continued Millaurer, noting its JV in China and India, as well as the recent acquisition of a 50% stake in a North American company.

Christ currently has group-wide sales of around Euro200 million from four divisions: Pharma Life Sciences, Microelectronics, Food & Beverage and Microfiltration. Its strategy is to have minimum sales of Euro50 million from each division.