Wicor back to Weidmann
Rapperswil-Jona SG – The technology group Wicor is changing its name back to Weidmann. The plastics specialist is therefore returning to its roots. Furthermore, the pilot plant for the industrial production of microfibrillated cellulose will go into operation in early summer.
The company known as Wicor Holding AG is changing its name. Wicor stands for Weidmann International Corporation and it will be going back to the name: Weidmann Holding AG. Founded in 1877 as a chipboard and cardboard mill, the company later specialised in plastics and insulation material. It changed its name to Wicor in 1994. Now the general assembly has decided that the company will return to its roots, as was reported in a press release. With over 30 sites worldwide, the headquarters of the company will remain in Rapperswil-Jona.
Company revenue in 2017 was down 2 per cent to 367 million Swiss francs but is still up on the level of 2015. Owing to strong demand for insulation material used in distribution transformers, the key company segment of Electrical Technology was able to improve its market share in North America, but it also suffered following a decline in major infrastructure projects in China. At the same time, Weidmann was able to have its insulation solutions for 1,100kV DC transformers tested by Siemens and thereby secured its leadership of the market in this area. Business with the condition monitoring of transformers was boosted through the takeover of the former Optocon AG in Dresden.
The newly created segment of Fibre Technology focussed on building the natural fibre plant in Rapperswil. In early summer, the custom-designed pilot plant for the industrial production of microfibrillated cellulose will go into operation. This type of cellulose is intended for use in innovative technical applications.
The company’s Medical Technology segment posted successful new business, above all in the areas of in-vitro diagnostics and the pharma sector, but it was hit by the decline in series production demand.