SICN-Annecy creates new subsidiary to drive growth
January 30, 2002
SICN-Annecy is spinning off its precision mechanical components business in a new company called GEMMA on 1 July 2002.
The aim of the restructuring is to strengthen the growth potential of this business, which has developed successfully as a separate division in recent years. SICN also is halting its uranium metallurgy activities.
GEMMA is a wholly owned subsidiary of SICN, with a staff of 110 employees. It is forecasting sales of 12M€ in 2002. GEMMA's main activity is the manufacture (machining, grinding, plasma deposit, welding and nondestructive testing) of high precision mechanical components and assemblies.
It has customers in the automotive, aerospace, microelectronic, nuclear and defense sectors. Created in 1957, SICN-Annecy fabricated graphite gas fuel for more than 30 years for now-decommissioned gas-cooled reactors.
Over the past 10 years, it has successfully positioned itself outside the nuclear market as a precision mechanical components manufacturer, while continuing to supply uranium metallurgy for military applications.