Hot runner system, toolmaker Inglass set to buy French mold maker ERMO

EUROPEAN PLASTICS NEWS

Published: May 8, 2014 3:11 pm ET
Updated: May 8, 2014 3:15 pm ET

Image By: Inglass SpA Inglass SpA will buy French mold maker ERMO to expand its capabilities in multicavity molds.

Related to this story

Topics Automotive, Mergers & Acquisitions, Molds/Tooling

Italy-based Inglass SpA, which specializes in hot runner systems and automotive lighting molds, has acquired French company ERMO, which produces multicavity molds.

The deal is expected to be finalized in June, but Inglass told European Plastics News they were not releasing the cost of the acquisition.

Under the transaction terms and subject to certain conditions, Inglass says, it will acquire 100 percent of the stock of AURCA, the holding company which owns 83.25 percent of publicly-traded ERMO, together with a further portion of shares of ERMO equal to 11.7 percent.

Once Inglass has a majority of the shares, it said it will launch an offer to acquire the remaining shares and take the company private.

Inglass states that the transaction will lead it to a further diversification process development of its activities from the automotive sector.

The two companies will continue focusing on their own key activities. Inglass says that ERMO will benefit from its global presence, as it has local branches in 50 countries and two production plants in Italy and in China, with a third opening soon in the U.S.

Inglass’ hot runner business, HRS Flow, announced last month that it is opening a new facility in Grand Rapids, Mich.

ERMO chairman Jean Yves Pichereau said: “Inglass’s global presence and its strong innovative spirit will enable us to offer technologically advanced products related to the high expertise of these two companies in the whole world, especially in those countries where the demand is increasing”.

Maurizio Bazzo, president of Inglass, said: “Over the following years, this decision will allow the company to choose and focus its resources in a niche of high precision molds, retracing the path taken by Inglass for rotating multicolor and multi-components molds for the automotive lighting field. ERMO, in particular, was chosen due to its excellent knowledge and the high reliability of its products, as well as the innovative spirit that we have in common”.

Inglass and ERMO will jointly represent a group of 800 employees and expect 2014 sales of 110 million euros ($152.3 million).


Comments

Hot runner system, toolmaker Inglass set to buy French mold maker ERMO

EUROPEAN PLASTICS NEWS

Published: May 8, 2014 3:11 pm ET
Updated: May 8, 2014 3:15 pm ET

Post Your Comments


Back to story


More stories

Image

Extreme Tool uses remote Michigan location to attract younger workers

September 30, 2014 3:47 pm ET

“I'm not saying there's anything wrong with being an old guy like me. But I do believe in the power of youth and reinvesting in training. The...    More

Image

RJG buys UK training group G&A

September 30, 2014 11:10 am ET

G&A Moulding Technology Ltd., a United Kingdom-based training and consultancy group, has been bought by RJG Inc., the U.S.-based training business.    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Japan's parts makers face challenges as carmakers expand supply base

September 29, 2014 11:01 am ET

For all their size and success, Japanese auto suppliers that rocketed to global dominance on the coattails of their No. 1 customer, Toyota Motor Corp....    More

Image

Clariant extends reach into Asia with acquisition

September 29, 2014 9:54 am ET

Clariant International Ltd. is buying VitaPac (HK) Industrial Ltd., a Hong Kong-based company which produces desiccant packets for the healthcare pack...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events