Bockenem, Germany – Meteor Group has acquired US-based profiles manufacturer Creative Extruded Products, the German engineered rubber products company has announced.
Headquartered in Tipp City, Ohio, Creative has more than 40 years of experience in custom plastics and rubber profile extrusion and injection moulding, said a 30 Nov Meteor statement.
Meteor expects the acquisition to expand its technological capabilities and solidify its presence in North America, as the two entities “have a substantial product and customer complementarity.”
In particular, Creative will add key know-how and technology in thermoplastic products such as PVC, ABS and polycarbonate, as well as thermoplastic rubber (TPR) and thermoplastic vulcanisates (TPVs), said Meteor.
The addition will also reinforce Meteor’s “already strong” portfolio of EPDM rubber for both dense and sponge materials, the Bockenem-based group added.
“With the acquisition, Meteor will be able to offer its clients a comprehensive portfolio of rubber and plastic sealing solutions,” according to the German manufacturer.
Creative's customer base of blue-chip tier-1 suppliers for the North American automotive industry complements Meteor’s customer base of automotive OEMs, it also noted.
“This acquisition will enable us to serve our renowned US customer base with a broader technology focus,” explained Robert Roiger, CEO of the Meteor Group.
With 2020 sales of $180 million (€158 million), Meteor operates from locations in Germany, the US, and Romania – specialising particularly in the manufacture of elastomer seals and sealing systems for automotive and industrial markets.
Some of the German group’s key OEMs customers include Daimler, BMW, VW Group, and the Stellantis Group as well as industrial clients such as Schüco.
Meteor was acquired in 2019 by AEQUITA, a Munich-based investment firm.