OC Oerlikon
OC Oerlikon is a Swiss industrial technology group focused primarily on surface-engineering solutions and advanced materials.
Last updated October 16, 2026
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Overview
OC Oerlikon is a Swiss-listed industrial technology group whose origins trace back to Maschinenfabrik Oerlikon, established in 1876 in the Oerlikon district of Zurich. The group has changed its identity and portfolio several times. It operated as Oerlikon-Bührle Holding from 1973, became Unaxis in 2000 after a major strategic refocusing, and adopted the OC Oerlikon name during the 2005–2006 transformation under new ownership and management. The historical group was diversified across engineering, aerospace, defense, vacuum technology, semiconductors, optics, solar equipment, textile machinery and other industrial activities. During the 1990s and early 2000s, management progressively sold businesses considered outside the core technology portfolio. The sale of the defense business, real-estate interests, Bally and Pilatus Flugzeugwerke helped narrow the group’s scope, while acquisitions such as Leybold and the integration of Balzers strengthened its position in vacuum and thin-film technologies. The Unaxis period brought both technological expansion and financial difficulties. Unaxis acquired control of semiconductor-equipment maker Esec and organized its operations into several technology segments, including semiconductor equipment, data-storage solutions, coating services, vacuum solutions and components. Weak semiconductor performance contributed to substantial losses in 2004 and intensified pressure for restructuring. In 2005, Austrian investor Victory Industriebeteiligung AG became the majority shareholder and replaced much of the management team. Thomas Limberger became chief executive, and the group sought to revive the Oerlikon name, which was formally adopted in the mid-2000s. The global financial crisis placed severe pressure on the group in 2008 and 2009, particularly on textile machinery. OC Oerlikon undertook workforce reductions, asset disposals and a major financial recapitalization. In 2010, shareholders approved a restructuring arrangement involving a nominal share capital reduction, a capital increase, shareholder options and revised bank financing. These measures reduced debt and provided a basis for portfolio simplification. Further transformation followed. The group sold Oerlikon Esec to BE Semiconductor Industries in 2009, Oerlikon Space to RUAG, and its Shanghai optics business to EIS Optics. Oerlikon Solar was sold to Tokyo Electron in 2012, while the textile businesses focused on natural fibers and textile components were sold to Jinsheng Group between 2012 and 2013. The 2014 acquisition of Sulzer Metco was strategically significant because it combined Metco’s coating technology with Oerlikon Balzers and other coating activities, creating the Surface Solutions segment. The Advanced Technologies business was sold to Evatec in 2015, the Vacuum business to Atlas Copco in 2016, and the Drive Systems segment to Dana in 2019. Since then, OC Oerlikon has focused on surface technologies and related advanced materials applications. Its main activities include coating systems and coating services, thermal-spray technology, additive-manufacturing materials and equipment, and related research and engineering. Brands such as Oerlikon Balzers, Oerlikon Metco and Oerlikon AM support applications in automotive, aerospace, tooling, energy, medical technology and other demanding industrial markets. The company also acquired Riri, a Swiss specialty zipper manufacturer, in 2023, adding consumer and luxury components to its portfolio, though its core industrial identity remains surface engineering. Today, OC Oerlikon is best understood as a focused Swiss industrial group rather than the diversified conglomerate its earlier history represented. Its positioning centers on extending component life, improving wear and corrosion resistance, enabling lighter or more efficient designs, and developing materials and processes for advanced manufacturing.
History
OC Oerlikon’s history begins with Maschinenfabrik Oerlikon, founded in 1876 in the Zurich district from which the later corporate name was derived. The enterprise developed into a broad industrial group and was reorganized as Oerlikon-Bührle Holding in 1973. At its height around 1980, the holding employed tens of thousands of people and had interests spanning engineering, aerospace, defense, machinery and technology. During the late twentieth century, weak performance encouraged a strategic narrowing. The group concentrated increasingly on technology businesses, including thin-film and vacuum technology. The 1994 acquisition of the Leybold Group was particularly important, combining with Balzers activities to create a stronger platform in vacuum and coating technologies. In 1999, the group sold several non-core operations, including its defense business, real-estate interests and Bally. The company changed its name to Unaxis in January 2000. Unaxis expanded into semiconductor equipment through its acquisition of a majority stake in Esec and later took full control. It also reorganized its technology portfolio into several segments, including semiconductor equipment, data storage, coating services, vacuum solutions and components. Performance problems in the semiconductor business contributed to heavy losses in 2004. In 2005, Victory Industriebeteiligung AG acquired a majority position, management was substantially replaced and Thomas Limberger became chief executive. The group subsequently revived the Oerlikon identity, formally adopting OC Oerlikon during the mid-2000s. The acquisition and integration of Saurer in 2006 increased the group’s exposure to textile machinery. The financial crisis of 2008–2009 caused a major contraction in demand, especially in textiles. Hans Ziegler served as interim chief executive during a restructuring that included layoffs, disposals and financial negotiations with major shareholders and lending banks. In 2010, shareholders approved a recapitalization involving a reduction in nominal share value, a rights offering, shareholder options and replacement financing. The program reduced the group’s debt burden and supported a renewed portfolio strategy. From 2009 onward, OC Oerlikon sold businesses that did not fit its increasingly focused industrial model. Oerlikon Esec was sold to BE Semiconductor Industries, Oerlikon Space to RUAG, and the remaining Shanghai optics operation to EIS Optics. The solar business was sold to Tokyo Electron in 2012. Textile activities were reorganized around man-made fibers, while the Natural Fibers and Textile Components businesses were sold to Jinsheng Group between 2012 and 2013. The acquisition of Sulzer Metco in 2014 marked a decisive shift toward surface solutions. Metco’s thermal-spray and coating expertise was combined with existing Oerlikon Balzers capabilities, making Surface Solutions the company’s principal business platform. Subsequent disposals reinforced that focus: Advanced Technologies was sold to Evatec in 2015, the Vacuum business to Atlas Copco in 2016, and Drive Systems to Dana in 2019. In parallel, OC Oerlikon invested in additive manufacturing and advanced materials, including a planned Michigan facility for production and research involving metal powders, titanium and other alloys. In 2023, the company acquired Riri, a Swiss producer of specialty zippers. This addition broadened the group’s industrial and precision-component portfolio, but the company’s central identity remains that of a surface-engineering and advanced-materials specialist serving global industrial customers.
- 2023
Riri acquired
[1]OC Oerlikon acquired Swiss specialty zipper maker Riri.
- 2019
Drive Systems divestment completed
[1]Dana completed its acquisition of Oerlikon’s Drive Systems segment.
- 2014
Sulzer Metco acquired
[1]The transaction expanded Oerlikon’s surface-coating and thermal-spray capabilities.
- 2010
Recapitalization approved
[1]Shareholders approved a comprehensive restructuring of equity and debt financing.
- 2006
Oerlikon identity restored
[1]The group adopted the OC Oerlikon name and acquired Saurer.
- 2005
Victory becomes majority shareholder
[1]Victory Industriebeteiligung AG acquired a majority share and initiated a management and strategic restructuring.
- 2000
Company renamed Unaxis
[1]Following portfolio restructuring and disposals, Oerlikon-Bührle adopted the Unaxis name.
- 1994
Leybold Group acquired
[1]The acquisition strengthened the group’s vacuum and thin-film technology platform.
- 1973
Oerlikon-Bührle Holding created
[1]The business was reorganized under the Oerlikon-Bührle Holding name.
- 1876
Maschinenfabrik Oerlikon established
[1]The industrial predecessor of OC Oerlikon was established in the Oerlikon district of Zurich.
Products and positioning
A global industrial technology specialist focused on surface engineering, coatings, advanced materials and additive manufacturing, with solutions designed to improve component performance, durability and production efficiency.
Industrial coatings
Oerlikon Balzers
Oerlikon Balzers provides thin-film coatings and related coating services for tools, components and production equipment. Its technologies are designed to reduce friction and wear, improve corrosion resistance and extend operating life. Applications span cutting tools, automotive components, aerospace parts, medical devices and other high-performance industrial products.
Surface engineering · 2014
Oerlikon Metco
Oerlikon Metco develops thermal-spray systems, materials and surface-treatment technologies. Its offerings are used to protect components against wear, heat, corrosion and other operating stresses. The business supplies equipment, powders, wires, coatings and services to markets including energy, transportation, aerospace and general industry.
Additive manufacturing
Oerlikon AM
Oerlikon AM covers additive-manufacturing materials, production and related engineering capabilities. The activity includes metal powders and processes for producing complex components, particularly in demanding aerospace, medical, automotive and industrial applications. The group has also invested in research and production infrastructure for titanium and other advanced alloys.
Precision components
Riri specialty zippers
Riri manufactures specialty zippers and related precision components, serving fashion, luxury and other design-led markets. Its acquisition added a Swiss component-maker with a consumer-facing application to OC Oerlikon’s predominantly industrial portfolio.
Brand decisions
2018
Sell Drive Systems to DanaM&ABackground
OC Oerlikon continued to divest activities outside its surface-solutions focus.
Action taken
The company signed an agreement to sell Drive Systems to Dana; closing took place in February 2019.
Aftermath
OC Oerlikon became more concentrated in surface engineering and advanced materials.
2014
Acquire Sulzer MetcoM&ABackground
Surface coatings were becoming the central strategic platform for the group.
Action taken
OC Oerlikon acquired Sulzer Metco and combined it with existing coating activities.
Aftermath
The transaction created a larger global surface-solutions business and reinforced the group’s industrial specialization.
2012
Sell Oerlikon SolarM&ABackground
OC Oerlikon was simplifying its portfolio and reassessing businesses outside its core areas.
Action taken
The company agreed to sell Oerlikon Solar to Tokyo Electron, with completion in November 2012.
Aftermath
The divestment removed solar equipment from the group’s continuing portfolio.
2010
Approve financial recapitalizationStrategyBackground
The financial crisis and weak operating performance created significant liquidity and debt pressures.
Action taken
Shareholders approved a nominal-value reduction, a capital increase, shareholder options and replacement bank financing.
Aftermath
The restructuring reduced debt and provided a platform for further portfolio transformation.
1999
Dispose of non-core businessesStrategyBackground
Oerlikon-Bührle concluded that a number of activities no longer fitted its technology-focused strategy.
Action taken
The group sold or exited businesses including defense, real estate and Bally, then renamed itself Unaxis in 2000.
Aftermath
The portfolio became more concentrated in industrial and technology activities.
Recent events
Oerlikon announces acquisition of INglass and HRSflow[2]
Reported:
Oerlikon reported that it had acquired INglass, including its HRSflow hot runner business, while stating that the deal was expected to close in the second quarter of 2021.
Sources2 sources
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