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 Mergers & Acquisitions, Automotive, 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

Unique Tool adding equipment, jobs

October 30, 2014 1:52 pm ET

Mold maker Unique Tool & Gauge Inc., is planning to invest more than $3.5 million dollars in new equipment for its Windsor, Ontario, facility.    More

Auto supplier receiving grant to help expansion

October 30, 2014 3:35 pm ET

Summit Polymers is receiving an $800,000 performance based grant to help with a $7.3 million expansion of three of its Michigan facilities.    More

Image

Magna opens new exterior facility, plans for lighting investment

October 30, 2014 1:36 pm ET

Canadian automotive supplier Magna International Inc. on Oct. 28 opened a new injection molding and robotic paint line facility in Delta Township,...    More

Image

Finalists named for 2014 SPE Automotive Innovation Awards

October 30, 2014 11:00 am ET

The Society of Plastics Engineers Automotive Division has selected finalists for its 2014 Automotive Innovation Awards competition. Category winners...    More

Image

Xten may shut down, working on sale to Commercial Plastics

October 29, 2014 5:49 pm ET

Xten Industries LLC is working on a sale to Commercial Plastics Co. of Mundelein, Ill. Xten, an injection molder based in Kenosha, Wis., filed a Worke...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

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 analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

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

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

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events