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Topics Mergers & Acquisitions, Furniture, Marine, Recreational/sporting goods, Signage & displays
Simona AG's North American unit has expanded its thermoplastic sheet business with the recent acquisition of Laminations Inc.
Laminations Inc. of Archibald, Pa., produces high density polyethylene and fluoropolymer sheets and a range of lining laminates. Its key markets for the polyolefin sheets are outdoor recreation, signage, furniture and marine, while its fluoropolymer products and laminates are prominent in chemical processing equipment.
The deal broadens Hazelton, Pa.-based Simona America Inc.'s production technologies and boosts capacity, which will allow it to capitalize on growth in North America, said President Michael Schmitz in a Jan. 10 news release.
Simona America produces polyolefin and PVC sheet, and solid rod. It also markets products made by other members of the Simona Group such as compression molded sheet, hollow rod, welding rod and pipe and fittings. Resins in the Simona product lines besides polyolefins and PVC include fluoropolymers, chlorinated PVC, ethylene vinyl alcohol and PETG.
Laminations' expertise includes unique color technologies for HDPE. Its Lamcon brand of high performance sheet encompasses flame-retarded polypropylene, fluoropolymers, chlorinated fluoropolymer and a proprietary grade of PVC. Major uses of the high performance sheet are in semiconductor and chemical processing equipment.
Its products complement Simona America's portfolio, the company said. The combined product lines make it a market leader for semi-finished plastic products in the semiconductor and chemical process industries.
For Laminations Inc., the deal adds value to its existing network of distributors, said President and CEO Michael Lynch.
Simona America's parent, Simona AG, reported sales of 218 million euros ($289.9 million) for the first nine months of 2013, down 4 percent from a year earlier. The Kim, Germany, company employs 1,200 globally and has annual production capacity of more than 220 million pounds.