Halma buys Swiss medical injection molder

EUROPEAN PLASTICS NEWS

Published: May 16, 2014 9:53 am ET
Updated: May 16, 2014 10:00 am ET

Image By: Halma plc Halma plc acquired the injection molding supplier to its Medicel medical devices unit, which specilizes in systems used in cataract surgery.

Related to this story

Topics Medical, Mergers & Acquisitions, Injection Molding, Europe

United Kingdom-based safety and environmental technology group, Halma plc, has acquired Plasticspritzerei AG, an injection molding company based in Switzerland.

Plasticspritzerei molds plastic components for Medicel, a sudsidiary of Halma, which makes devices used in cataract surgery. Plasticspritzerei is located at the same facility as Medical in Wolfhalden, Switzerland, and “has been a close commercial partner since Medicel's inception,” said Halma.

Halma paid an initial cash consideration of 8 million Swiss francs ($8.9 million), but immediately sold the industrial segment of the Plasticspritzerei business to a third party, resulting in a net cash cost to Halma of 4.8 million Swiss francs ($5.4 million).

“These transactions have resulted in Halma owning only those assets which support Medicel's business,” said Halma.

The retained business had sales of 3.6 million Swiss francs ($4 million) in 2013. Halma paid for the acquisition using existing cash and debt facilities.

Andrew Williams, Halma's CEO, said: “Plasticspritzerei's acquisition secures important production IP, enabling Medicel to maintain and grow its already strong position in the cataract surgical device market. This transaction is another example of Halma finding valuable strategic bolt-on acquisitions to sustain long-term success.”

The deal was one of two acquisitions announced by Halma on May 15. It also bought fire detection and control systems company Advanced Electronics Ltd. of Newcastle, England, for 14.1 million pounds ($23.7 million) in cash and stock. Advanced will operate as a stand-alone business within Halma’s infrastructure safety division.


Comments

Halma buys Swiss medical injection molder

EUROPEAN PLASTICS NEWS

Published: May 16, 2014 9:53 am ET
Updated: May 16, 2014 10:00 am ET

Post Your Comments


Back to story


More stories

Image

Coveris makes another flexible packaging buy

August 22, 2014 9:34 am ET

Coveris Holdings is continuing its rapid acquisition pace, this time picking up flexible print specialist Learoyd Packaging (Holdings) Ltd. to boost...    More

Image

Westminster Tool creates academy to find, train future toolmakers

August 22, 2014 2:06 pm ET

Westminster Tool Inc. begins its own Westminster Academy to find and train skilled employees.    More

Image

Prosthetic arm concept wins in student thermoforming competition

August 22, 2014 1:56 pm ET

Pressure forming company Freetech Plastics Inc. has returned with its annual Student Thermoformed Part Competition, intended to expand the exposure...    More

Image

Making the most of complexity

August 22, 2014 1:02 pm ET

In the global market for injection molded parts, custom molders have tried a million different ways to differentiate themselves from the pack. Make...    More

Image

Promens closing 2 German blow molding plants

August 22, 2014 9:54 am ET

Promens hf, the Icelandic packaging group, is planning to restructure its packaging operations in Germany with the closure of two blow molding plants ...    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

2014 Injection Molding Industry Report

GROWTH, OPPORTUNITY IN SIGHT FOR INJECTION MOLDERS IN 2014

In the wake of the economic turbulence earlier in this decade, molders today find themselves in much better shape. Molders are gaining a competitive advantage by investing in people, equipment and seeking inroads into new markets on a global scale.

Growth in the injection molding industry is going to be driven by low financing costs and a continued move to reshore some business.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

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

More Events