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ePaper created 2015-05-06, 08:22:31 | version 1.38.0
21HERAEUS | FINANCIAL REPORT 2014 | GROUP MANAGEMENT REPORT In 2014, Heraeus decided that it would refit its core plant in Hanau and wasted no time in initiating the first steps. This is why investment in land and buildings accounts for such a large part of capital expenditure. Going forward, the site is to be more clearly delineated according to adminis- trative and operational functions, thereby paving the way for the optimization of processes in areas such as logistics and production. In the year under review, €4.9 million was used for acqui- sitions (see 10a in the notes to the financial statements). On June 11, 2014, the Specialty Light Sources business group acquired the US-based company Vulcan Catalytic Systems Ltd. As a result of this acquisition, Heraeus is now able to offer hybrid systems combining gas catalytic and electrical infrared technologies that offer lots of poten- tial in the markets and provide Heraeus with a new means of standing out from the competition. On July 25, 2014, the Sensors business group acquired the shares of MDC Sublance Probe Technology Shanghai Co., Ltd., China. The aforementioned acquisitions resulted in the recog nition of intangible assets, including know-how, of €2.8 million. The Biomaterials and Medical Products business group acquired a 13.5 percent stake in Locate Therapeutics, a research-oriented company based in the UK that spe- cializes in regenerative medicine. Locate Therapeutics has developed a patented polymer platform that accelerates the wound-healing process and thereby facilitates the actions of receptor-binding active ingredients, locally applied drugs, and cell-based therapies.