News
SERMA gains strength on the German market
Our active search for a company in Germany was launched a year ago. It reached a conclusion in early September with the acquisition of the company AXENEON, based in Nuremberg. This operation is strategically important for GROUPE SERMA TECHNOLOGIES’ development outside France and is justified by the significant size of the German electronics market. Between them, France and Germany represent over 70% of the electronics market in Europe.
At 1st October 2009, AXENEON employed 70 people for forecasted sales at end 2009 of €6 million.
AXENEON provides engineering services specialising in the field of embedded systems. For the last ten years, it has been providing on-site services to customers in software development and testing, electronic systems development and computer-aided design.
AXENEON has two sales offices: Berlin and Cologne. Like all German engineering companies, AXENEON is heavily involved in the automotive sector. It has reoriented its business to include the energy, aeronautical, rail and industrial automation sectors.
The 2010 objective for SERMA TECHNOLOGIES is to consolidate by improving AXENEON’s business margins and create a dedicated platform around the company for the quick development of GROUPE SERMA TECHNOLOGIES’ activities in Germany.
This acquisition reaffirms GROUPE SERMA’s external growth strategy and has been positively received. The Group results for first half 2009 demonstrate very stable turnover and operating income compared to 2008 figures, despite our market’s difficult situation. The second half of the year will intensify these good results and enable us to reach a level of growth equal to 2008 for all our ratios.