HAREN, GERMANY (Aug. 24, 1 p.m. ET) — R"chling Engineering Plastics KG of Haren, Germany, has acquired plastics processor Maywo Kunststoff GmbH.
Maywo, based in Bad Gr"nenbach, Germany, extrudes single and multi-layer sheets and films of ABS and polystyrene for use in thermoforming applications. Maywo's customers use the material to manufacture vacuum formed parts for various industries, including electronics, machinery construction, special vehicle construction, sports equipment, garden tools and aviation.
Terms of the deal were not disclosed. Maywo currently has 85 employees and sales of approximately 27 million euros ($33.8 million), according to a news release.
The company will become part of R"chling's High Performance Plastics business unit. The acquisition will strengthen R"chling's range of semi-finished product offerings, an area currently served by R"chling subsidiaries in Sweden and Finland, the company said in the release.
The acquisition will also benefit Maywo, boosting the company's prospects with the further development of materials and technologies, an expanded product range and an increasingly international sales market, according to the release.
R"chling plans to expand operations at Maywo's facility in Thal, a village in Bad Gr"nenbach. Two managers will run the facility — Maywo's current general manager Wolfgang Baumgärtner and Florian Helmic, formerly the general manager for press moulding at R"chling's facility in Haren.
R"chling Engineering Plastics KG is a subsidiary of Manheim, Germany-based R"chling Group.