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 Mergers & Acquisitions, Europe, Medical, Injection Molding

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

Deal puts Convergence Packaging under Comar's umbrella

October 24, 2014 2:00 pm ET

Convergence Packaging Holdings LLC, itself a product of mergers, now is joining together with Comar LLC.    More

Image

Akro-Plastic buying German subsidiary from Metabolix

October 24, 2014 3:32 pm ET

Akro-Plastic GmbH, a Niederzissen, Germany-based plastic compounder, has purchased the assets of Metabolix Inc.'s subsidiary in Germany.    More

Image

Automation firms join forces, look to automotive for future growth

October 24, 2014 2:43 pm ET

Hoping to ease the way for automation in some specialized areas of automotive plastics like laser cutting of door panels, a German robot maker and an ...    More

Image

Gerresheimer opens first development center in China

October 24, 2014 1:34 pm ET

Medical molder Gerresheimer AG has launched a development center for medical plastic systems in Dongguan, China.    More

Image

German export sales strong, push for energy savings continues

October 24, 2014 12:34 pm ET

Germany is the engine that drives the European economy — and when it comes to the plastics industry, German machinery is a potent force, an expo...    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

More Events