Semperit completes acquisition of Rico Group

Vienna – Semperit has completed the acquisition of Rico Group, a global supplier of customised elastomer and plastics products and technologies, the Austrian group announced 1 Aug.

Formally completed on 31 July, the deal adds Rico’s €90-million-sales operation, employing over 500 people in Austria, Switzerland and the US, to Semperit’s industrial-product operations.

In particular, Semperit gains “technology leadership” in liquid silicone and high-end mould production and strengthens, the Vienna’s based group’s CEO Karl Haider.

“The acquisition of Rico is another important step in implementing our growth strategy with a focus on global leadership, innovation and technology,” said Haider.

“This goes along with servicing high-growth sectors such as health care and industrial household applications. The acquisition is value-enhancing and also increases our presence in the North American market”, he added.

Semperit said Rico projects to expand production at its Austrian site in Thalheim near Wels as well as expansions in the US and Switzerland, will continue.

The group went on to cite industry forecasts that the market for silicone products in western Europe and the US will grow by around 7% annually until 2027.

Currently, the silicone products market is on track to reach an estimated value of around $8 billion in 2023, Semperit further noted.