HEXPOLs acquisition of Horst Müller Kunststoffe GmbH & Co. KG from the German
Rowa Group has been completed.
Müller Kunststoffe is a leading Central European developer and manufacturer of
thermoplastic elastomer compounds (TPE Compounding) and has two production units
in Lichtenfels, Germany. Müller Kunststoffe has an estimated annual turnover of
approximately 46 MEUR with around 90 employees.
”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. Müller 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. Müller Kunststoffe is a
well-established and well-managed company with strong management and a strong
brand.”
Müller 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.