HEXPOL has today acquired the VIGAR Rubber Compounding business within Grupo
Vigar from the founders’ families. Vigar Rubber Compounding has more than 50
years’ experience of rubber compounding and is a well-known Rubber Compounder in
the Spanish and German market.
"The acquisition is a very good complement to HEXPOL Compounding in Europe and
broadens and strengthens our presence with Rubber Compounds into the Spanish and
German markets. Vigar Rubber Compounding expands our capabilities and capacities
to serve our customers in a more efficient way."
Ralph Wolkener/Carsten Rüter,
President HEXPOL Compounding Europe
Vigar Rubber Compounding, with manufacturing facilities in Rubi, Spain and
Viersen, Germany, had a turnover of 57 MEUR in 2013 and has 134 employees (Spain
88, Germany 46).The acquired business has a positive EBITDA margin well below
the HEXPOL group and is expected to have an insignificant impact on earnings per
"This is a further step in expanding and strengthening the HEXPOL Group with a
further acquisition within our core business. Vigar Rubber Compounding, with its
competence and capabilities, will fit nicely into the HEXPOL Group and gives us
a stronger European presence."
Georg Brunstam, CEO HEXPOL
The acquisition price is estimated to approximately 19 MEUR (including an option
to acquire certain land and building in Spain) on a cash and debt free basis and
has been funded by a combination of cash and existing bank facilities.
Acquisition and integration costs will be reported in Q4-2014. The business will
be consolidated from the acquisition day.
HEXPOL is a world-leading polymers group with strong global positions in
advanced rubber compounds (Compounding), gaskets for plate heat exchangers
(Gasket), and plastic and rubber materials for truck and castor wheel
applications (Wheels). Customers are primarily OEM manufacturers of plate heat
exchangers and trucks, systems suppliers to the global automotive and
engineering industries, the energy sector and medical equipment manufacturers.
The Group is organised in two business areas, HEXPOL Compounding and HEXPOL
Engineered Products. The HEXPOL Group’s sales in 2013 amounted to 8,036 MSEK.
The HEXPOL Group has approximately 3,500 employees in ten countries. Further
information is available at www.hexpol.com.