LONDON (April 5)–British Vita P.L.C. has acquired the thermoplastic elastomers business of Italy’s Valerio Franceschetti Elastomeri S.p.A. to go with its growing TPE materials business unit.
British Vita, itself the object of a buyout by a U.S. industrial investor group, will pay up to $20.7 million for the VFE unit, which makes technical TPE compounds for markets such as leisure, construction, medical, household appliances and footwear.
Sales in 2004 amounted to $35.4 million, with pretax earnings of $2.7 million.
Adding VFE complements Vita’s acquisition of Elastoteknik in Sweden…