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

French investment firm buys Alabama-based CSP Technologies

January 30, 2015 1:10 pm ET

A French investment firm has finalized a deal to buy CSP Technologies Inc., an Auburn, Ala., company that makes specialty plastics packaging.    More

Image

Lubrizol buys Brazil-based coatings technology manufacturer

January 30, 2015 11:50 am ET

Specialty chemicals company Lubrizol Corp. of Wickliffe, Ohio, said it has acquired a Brazilian company that makes coatings technology for products...    More

Image

Lund adds to aftermarket auto products portfolio with buy of Bushwacker

January 29, 2015 2:49 pm ET

Lund International Inc. has expanded its portfolio of plastic aftermarket vehicle accessories by acquiring Bushwacker Inc.    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

Plastics News Now: Losing weight with style, plastics in the Dragons' Den

January 29, 2015 6:00 am ET

A 19-year-old entrepreneur brings business to a U.K. injection molder after winning support on TV's Dragons' Den, auto suppliers combine h...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

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

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

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