ERJ staff report (DS)
Stockholm -- Hexpol's acquisition of Horst MÃ¼ller Kunststoffe GmbH & Co. KG from the German Rowa Group has been completed.
MÃ¼ller Kunststoffe is a leading Central European developer and manufacturer of thermoplastic elastomer compounds (TPE Compounding) and has two production units in Lichtenfels, Germany. MÃ¼ller Kunststoffe has an estimated annual turnover of approximately 46 MEUR with around 90 employees.
MÃ¼ller Kunststoffe will be consolidated as of January 2012 and will be a part of business area Hexpol Compounding. The acquisition price adjusted for acquired net debt amounts to 39 MEUR in cash and is funded by a combination of cash and existing bank loans.
"The acquisition constitutes yet another step in our ambition to broaden our product range within our Compounding business area" says Georg Brunstam, President and CEO of Hexpol Group. "The market for TPE compounding is undergoing great growth with interesting and increasing customer applications within the field of medical, consumer, general industry and automotive. MÃ¼ller Kunststoffe perfectly complements our European TPE compounding operations where we already have units in the UK and Sweden. We are also right now building a manufacturing plant in southern China for TPE compounding. MÃ¼ller Kunststoffe is a well-established and well-managed company with strong management and a strong brand."
This is an external link and should open in a new window. If the
window does not appear, please check your pop-up blocking software. ERJ
is not responsible for the content of external sites.
Press release from Hexpol