SCHAFFHAUSEN, SWITZERLAND - Plastic pipe producer Georg Fischer AG has acquired a stake in German plastics semi-finished product and piping component maker Simona AG as part of its plan to expand its business worldwide.
Fischer of Schaffhausen bought a 15 percent stake in Kirn, Germany-based Simona, which makes semi-finished products such as sheet and rod, as well as pipe, molded parts and fittings.
Simona serves the chemical equipment, machine-tool, drinking water, wastewater and gas distribution markets. The firm has manufacturing sites in Kirn, Ringsheim and Ettenheim in Germany and sales offices in Britain, Italy, France, Poland, Spain, Switzerland, the Czech Republic and Hong Kong.
Simona employs 1,000 and reported 2000 sales of more than 180 million euros ($153 million) .
The two companies plan to discuss ways to cooperate on sales and development of products, according to Fischer officials.