EYNATTEN, BELGIUM (Aug. 11, 12:30 p.m. ET) — Belgian specialized foam extruder NMC SA plans to buy the European polyethylene technical foams business of the global insulating materials group Armacell International Holding GmbH.
Under the deal, NMC will take over Münster, Germany-based Armacell's regional PE packaging, industrial and leisure foams activities, including the operations at its site in Thimister-Clermont, Belgium, on Sept. 1.
At least two of the four foam extrusion lines in Thimister will move to NMC's plant in Eynatten, Belgium. By the end of 2011, the Armacell's 20-strong Thimister workforce will be transferred to the Eynatten facility.
Armacell's other PE insulation and PET core-foam operations, along with its North American PE technical foam business and global synthetic rubber foam business, will be unaffected by the deal. They remain strategic growth priorities for Armacell, it said.
Eynatten-based NMC already has a strong European presence with 11 factories ands sales offices in 19 countries. It employs 1,135 across the region manufacturing products for applications including technical insulation, interior and exterior decoration, packaging, sport and industrial solutions. The company achieved 2010 sales of 175 million euros.
Armacell, a world market leader for flexible technical insulation materials with 18 plants as far apart as Britain, Australia, Brazil, the United States, China and Saudi Arabia, recorded 2010 sales of 427 million euros. It employs 2,500.