The move was made to simplify the organisation and Mikron shareholders have approved all proposals by the board of director. Mikron Holding AG, Biel, remains a separate entity.

From the merger of its four Swiss subsidiaries Mikron expects a one-time positive tax effect for the financial year 2021 in the vicinity of CHF 5 million (£3.9m) by utilising and capitalising tax loss carry forwards. The merger has no impact on the operating activities of the group nor the management of the single locations.

The Mikron Group develops, produces and markets highly precise, productive and adaptable automation solutions, machining systems and cutting tools.