Saint-Gobain Performance Plastics is continuing to add to its portfolio, buying German molder LS Kunststofftechnologie GmbH.
The acquisition, announced by Saint-Gobain on Dec. 4, is the third for the group this year and the fourth in the past 13 months.
LS, based near Frankfurt in Wertheim, Germany, has two production sites — one in Wertheim and another in Neuhaus — molding high-precision parts using high-temperature resins for automotive, medical and industrial applications. It has 220 employees.
The companies did not disclose the purchase price.
LS's products for the auto industry include high-performance parts used in steering and chassis components and within the powertrain. It has clean-room production for medical disposables and produces a range of multi-component systems for a variety of customers. It has in-house expertise in design, tooling and testing its parts.
The locations in Germany will help Saint Gobain's North American-based performance plastics division expand its sales in Europe, the company said,
In January, Saint-Gobain Performance Plastics of Aurora, Ohio — a division of Paris-based Cie. de Saint-Gobain — purchased American Fluoroseal Corp. of Gaithersburg, Md. It picked up Applied Bioprocess Containers of Plymouth, Minn., in March.
In November 2012, Saint-Gobain bought Twin Bay Medical Inc. of Williamsburg, Mich.
Saint-Gobain said the acquisition is a “perfect fit” with its strategy of strengthening its position in high-performance solutions. In November, it noted that one of its strategic goals for 2013-18 includes 4 billion euros ($5.4 billion) worth of small to mid-scale acquisitions.
