Cleveland, Ohio – US seals supplier System Seals Inc. has acquired Plastoseal Produktions GmbH, an Austrian-based manufacturer of “highly engineered sealing solutions”.
The deal, said System Seals 24 June, enhances the company’s GlobalOne programme which offers a comprehensive approach to managing supply chain logistics for seal customers worldwide.
"We are pleased with this transaction because both companies share very similar value propositions, as well as company cultures," System Seals president Arnold von Engelbrechten said in a statement.
According to System Seals, Plastoseal has developed into “a market leader” in the European seal manufacturing.
Wolfgang Kerschbaumer will continue as Plastoseal's managing director following the acquisition.
Founded in 2005 in Leoben, Austria, Plastoseal produces seals and plastic components used in industrial applications.
The firm employs 13 people at an 11,800-sq.-ft. facility.
Through its partnership with System Seals, Plastoseal expects to offer “global customers a wider product range” and gain access to research and development, Kerschbaumer said in a statement.
The Austrian company will also employ System Seals’ applied engineering and technologies to reduce down time and improve productivity amongst its European customers.
System Seals serves a variety of industries, including metal processing, forging, oil and gas, mining, mobile hydraulics as well as cylinder repair and maintenance.
Its acquisition of Plastoseal is the second in the last three years, following a recent takeover of Cleveland-based Arc Seals.