Hexpol completes acquisition of Müller Kunststoffe

ERJ staff report (DS)

Stockholm -- Hexpol's 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.

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.

"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."

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Press release from Hexpol