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Linking up Combining strengths
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Combining strengths
Inwido Finland signs agreement to acquire Klas1
Inwido Finland, part of Europe’s largest supplier of windows and doors Inwido, has signed an agreement to acquire the company Klas1 Yhtiöt Oy, located in Kuusamo, northern Finland with a turnover of €1.9. million. Klas1, which was founded in 1994, specialises in the manufacture and marketing of low energy fixed windows with opening parts for demanding architectural building projects.
“With this acquisition, we complement our offering to cover the needs of demanding architectural building projects. The long experience of Klas1 in the development, manufacture and deliveries for this challenging segment is a very good complement to our existing business,” states Inwido Finland managing director Timo Luhtaniemi.
In April 2016, Inwido also announced the acquisition of the majority share in Värmelux Oy.
Inwido Finland is the market leader in Finland, manufacturing and marketing windows and doors under the brands Pihla, Tiivi, Eskopuu and Lämpölux. Its headquarters are located in Jyväskylä and its manufacturing plants in Kannus, Ruovesi and Haapajärvi. Visit: www.inwido.com The Austrian company Meusburger Georg GmbH & Co KG is taking over PSG Plastic Service GmbH located in Mannheim. PSG will continue to operate as an independent enterprise and all of its about 200 members of staff will be retained. Meusburger is the leading manufacturer of highprecision, high-quality standard parts and is, like PSG, a family company with a long tradition.
“We are pleased to welcome the employees of PSG into the Meusburger family. With the takeover we have taken on board a strong partner with many years of experience in hot runner and control systems. We will continue to operate the company under the established PSG brand,” says Guntram Meusburger, managing director of Meusburger Georg GmbH & Co KG. After more than 50 years of successful history, the existing shareholder of PSG is very glad to have a family company as its new owner. Visit: www.meusburger.com
Meusburger takes over PSG Plastic Service GmbH
EuroChem acquires Brazilian company Fertilizantes Tocantins
EuroChem Group AG, a leading global agrochemical company, has announced the acquisition of a controlling interest in Fertilizantes Tocantins, a leading fertiliser distribution company in Brazil.
The acquisition is in line with EuroChem’s strategy to strengthen its presence in the fast growing Latin American fertiliser market. With Fertilizantes Tocantins’ market expertise, blending facilities and established network of 2000 customers, this acquisition will strengthen EuroChem’s capabilities in the region.
Founded in 2003, Fertilizantes Tocantins is strategically located in Brazil’s emerging fertile farming regions in the north, northeeast and mid-west. It has delivered double digit sales growth for seven consecutive years, with fertiliser sales reaching 740,000 tonnes in 2015.
Dmitry Strezhnev, EuroChem’s CEO, commented: “The acquisition of Fertilizantes Tocantins creates compelling growth opportunities for EuroChem in Brazil, allowing us to significantly expand our offering of high-quality fertilisers to local farmers.”
José Eduardo Motta, Fertilizantes Tocantins’ CEO, added: “With this backing from EuroChem, such an established global fertiliser producer, we are confident in our ability to significantly increase our market share in Brazil.” Visit: www.eurochem.com
Kistler Group acquires Schatz Group
With immediate effect, Kistler is taking over Schatz AG in Remscheid (Germany) and its US sales and service company, Schatz USA, Inc., Holly (MI). This acquisition gives the Kistler Group new potential applications in quality assurance in industrial manufacturing. The Schatz Group can now market its systems through Kistler’s global sales network, giving it access to previously underexploited markets.
Screw driving is still one of the most elementary basic processes in industrial manufacturing. The monitoring and inspection of screw connections is extremely important in quality assurance, especially in the automotive industry. By acquiring the market and technology leader, the Kistler Group is strengthening its own position in quality assurance in industrial manufacturing. The takeover is “a logical step for Kistler in the implementation of its overall growth strategy,” says CEO Rolf Sonderegger. “We want to use our measuring technology in even more applications and increase the number of complete systems and targeted services that we offer.” Visit: www.kistler.com
LINKINGUP
HEXPOL takes over BERWIN Group
HEXPOL has today acquired 100% of the Berwin Group Ltd from present shareholders (main shareholder Glyn Williams and his family). Berwin has more than 60 years’ experience of rubber compounding and is today a leading Rubber Compounder in the UK market.
Berwin Group (Berwin Rubber Co. Ltd, Berwin Industrial Polymers Ltd and Flexi-Cell (UK) Ltd), with manufacturing facilities in Manchester, UK and in Gloucestershire, UK has an estimated annual turnover of around £40 million and has around 200 employees. The acquired business has an EBITDA margin below the HEXPOL Group but is expected to have a positive impact on earnings per share.
“This is a further step in expanding and strengthening the HEXPOL Group with a further acquisition within our core business. Berwin, with its competence and capabilities, will fit nicely into the HEXPOL Group and gives us a stronger UK presence,” says Georg Brunstam, CEO HEXPOL Group
The acquisition price is estimated to approximately £25 million on a cash- and debt-free basis and has been funded by a combination of cash and existing bank facilities. Visit: www.hexpol.com
CortecCros now fully-owned by Cortec Corporation
Croatian company CortecCros has become a wholly owned subsidiary of Cortec Corporation. Owned by Croatian-American entrepreneur Boris Miksic, Cortec is one of the leading manufacturers of corrosion protection inhibitors in the world market and sells its products in over 90 countries. This acquisition will further strengthen the company’s strategic position in Europe.
Cortec’s central European point for manufacturing and distribution is now located in Croatia, from where its products are exported worldwide. CorteCros will be fully incorporated into the Cortec’s new business strategy with its resources such as the Zagreb office and distribution centre in Split, Croatia. The company’s production will be controlled by the new laboratory, whose construction is planned in the near future. Split will be the main European location for the storage of Cortec products as well as the products of Cortec’s daughter company Bionetix International, which specializes in environmental biotechnology.
CorteCros has been successfully selling corrosion protection products on the European market for many years and has won four Croatian ‘Gold Kuna’ awards. CorteCros will provide technical support for Cortec’s products and services, particularly in industries such as military and oil. Visit: www.cortecvci.com German auto parts maker ElringKlinger has announced that it has acquired German tool and die making specialist Maier Formenbau. Jens Winter, a spokesperson for ElringKlinger, said that no financial details of the acquisition were being disclosed.
Jürgen Weingärtner, head of Technical Service for the ElringKlinger Group, said: “Following the acquisition of Hummel-Formen GmbH in 2011, this latest takeover is to be seen as the next logical step. It adds to our skillset in the best possible way and allows us to stand our ground as a technology leader in the field of tool- and die-making.”
Maier Formenbau focuses on the manufacture and repair of technically complex injection moulding tools. It currently employs 42 people and saw sales of €6m in 2015.
The ElringKlinger Group employs more than 8000 people at 45 locations around the world. Visit: www.elringklinger.de
Ammeraal Beltech acquires Australian partner Rydell
Ammeraal Beltech, a leading worldwide developer and manufacturer of process and conveyor belting, headquartered in Alkmaar, The Netherlands, announces that it has acquired its long-standing Australian distribution partner Rydell Industrial (Belting) Co. Based in Melbourne, Victoria, Rydell has seven additional branches across Australia. Current managing director Wayne Durdin will continue to lead the company and its existing 88 staff, reporting to Ammeraal Beltech’s Asia Pacific operations.
The company will operate for the time being as Rydell Beltech Pty Ltd, a whollyowned subsidiary of Ammeraal Beltech. Jordi Crusafon, head of Sales & Service for the EMEA and APAC regions at Ammeraal, strongly welcomes the move. “Rydell are solutions providers with a strong customerfocused approach, which matches perfectly the strategy of Ammeraal Beltech. We have worked together for 25 years now, so it is therefore a great pleasure to formally welcome this excellent team to our family.” Visit: www.ammeraalbeltech.com
