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
Companies & Associations

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

Amcor buys Nampak Flexibles

March 31, 2015 3:31 pm ET

Australian packaging giant Amcor Ltd. has bought South African-based Nampak Holdings Ltd.'s Nampak Flexibles division.    More

Image

Uponor sells plastic pipe machinery business to focus on core units

March 30, 2015 2:13 pm ET

Uponor Corp., the Finland-based maker of plastic pipe systems for plumbing, underfloor heating and cooling and infrastructure, announced March 30...    More

Image

Dow Chemical to merge chlorine operations with Olin

March 27, 2015 12:43 pm ET

Dow Chemical Co. is combining a large part of its chlorine value chain with specialty chemicals and ammunition maker Olin Corp. to create a global...    More

Image

Flextronics launches global injection molding, tooling unit

March 26, 2015 4:29 pm ET

Flextronics International Ltd. (Booth S34125) is officially launching Precision Plastics, a global injection tooling and manufacturing unit, as a...    More

Image

Core Molding buys CPI Binani assets, adds markets, D-LFT capabilities

March 20, 2015 1:20 pm ET

Core Molding Technologies Inc. is expanding its thermoplastics capabilities with the acquisition of substantially all the assets of CPI Binani Inc., o...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion 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

Upcoming Plastics News Events

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

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

More Events