DGAP-News
ElringKlinger acquires specialty plastics producer Polytetra
DGAP-News: ElringKlinger AG / Key word(s): Acquisition
ElringKlinger acquires specialty plastics producer Polytetra
21.10.2014 / 16:55
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Bietigheim-Bissingen/Mönchengladbach (Germany), October 21, 2014 +++
ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, a subsidiary of
ElringKlinger AG, has acquired from the former owners all interests in
Polytetra GmbH, based in Mönchengladbach (Germany). The purchase agreements
were signed on the day prior to this announcement.
Serving markets outside the automotive industry, the acquiree's
technological focus is on developing and producing polymer-based heat
exchangers and electric heaters used in industrial applications. The
company's product portfolio also includes tubing and finished parts made of
fluoropolymers and high-performance plastics.
The products are used primarily in the field of plant engineering, in the
chemical industry, in the area of energy and power station technology as
well as in the semiconductor industry. Polytetra can draw on many years of
experience in R&D and has significant product expertise. In acquiring the
company, ElringKlinger Kunststofftechnik GmbH has further strengthened its
position in the industrial sectors outlined above, as well as securing
additional growth opportunities in the production of modules and systems.
Product solutions centered around the generation of heat from surface
waterbodies (geothermal energy), which can be used to supply houses,
holiday homes and houseboats, are also considered promising from a
commercial perspective. Additionally, the development pipeline currently
includes polymer-based heat exchangers for power generation from wastewater
and ventilation systems.
In 2013, the company recorded sales revenue of EUR 5 million, with an
operating margin in high single figures. Polytetra employs 32 people at its
site in Mönchengladbach. The entity is to be included in the scope of
consolidation of the ElringKlinger Group effective from October 1, 2014.
Inclusion in the ElringKlinger Group is aimed at leveraging the company's
growth potential to a greater extent. Annual revenue growth, in percentage
terms, is expected to be at the upper end of the single digit range.
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ElringKlinger Kunststofftechnik GmbH produces seals/gaskets and structural
components made of high-performance plastics such as PTFE, PTFE compounds,
PFA and PEEK. Supplying products for specialty applications in the
ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, a subsidiary of
ElringKlinger AG, has acquired from the former owners all interests in
Polytetra GmbH, based in Mönchengladbach (Germany). The purchase agreements
were signed on the day prior to this announcement.
Serving markets outside the automotive industry, the acquiree's
technological focus is on developing and producing polymer-based heat
exchangers and electric heaters used in industrial applications. The
company's product portfolio also includes tubing and finished parts made of
fluoropolymers and high-performance plastics.
The products are used primarily in the field of plant engineering, in the
chemical industry, in the area of energy and power station technology as
well as in the semiconductor industry. Polytetra can draw on many years of
experience in R&D and has significant product expertise. In acquiring the
company, ElringKlinger Kunststofftechnik GmbH has further strengthened its
position in the industrial sectors outlined above, as well as securing
additional growth opportunities in the production of modules and systems.
Product solutions centered around the generation of heat from surface
waterbodies (geothermal energy), which can be used to supply houses,
holiday homes and houseboats, are also considered promising from a
commercial perspective. Additionally, the development pipeline currently
includes polymer-based heat exchangers for power generation from wastewater
and ventilation systems.
In 2013, the company recorded sales revenue of EUR 5 million, with an
operating margin in high single figures. Polytetra employs 32 people at its
site in Mönchengladbach. The entity is to be included in the scope of
consolidation of the ElringKlinger Group effective from October 1, 2014.
Inclusion in the ElringKlinger Group is aimed at leveraging the company's
growth potential to a greater extent. Annual revenue growth, in percentage
terms, is expected to be at the upper end of the single digit range.
----------------------------------------------------------------------
ElringKlinger Kunststofftechnik GmbH produces seals/gaskets and structural
components made of high-performance plastics such as PTFE, PTFE compounds,
PFA and PEEK. Supplying products for specialty applications in the
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