Germany's Rampf Holding GmbH & Co. KG has bought U.S.-based Innovative Polymers Inc., which makes polyurethanes for tooling and modeling applications.
Innovative Polymers, will be integrated into Rampf's North American subsidiary, Rampf Group Inc., which has been active in North America since 2003. No price was disclosed for the purchase.
“The acquisition will enable us to expand our product portfolio and to open up new business opportunities in industries in which we are already active. Furthermore, we will be able to enter new markets, for example oil and gas, and the railway industry,” said Jürgen Penker, CEO of Rampf Group.
Penker said there are opportunites to extend the product range into innovative areas. “Staff at Innovative Polymers will have access to a fully equipped laboratory and prototyping facilities, which will significantly drive forward product development,” he said.
Innovative Polymers was founded in 1995 and currently employs 12 people. Its polyurethane products are used in the automotive, electronic equipment and encapsulation, architecture, medical, sports and recreation sectors. Rampf Group in North America makes Raku-Pur modeling and styling boards, Close Contour castings, blocks and pastes, as well as liquid systems.
The facilities in St. Johns, 80 miles northwest of Rampf Group headquarters in Wixom, Mich., will be retained, said Rampf. This will enable expanded production Rampf said.
“The expansion of our portfolio of products is part of our long-term strategy, which spans until the year 2030,” said Michael Rampf, CEO of Rampf Holding, based in Grafenberg, Germany. “This extends to 2030.
“The consequent internationalization of our group plays an important role in this. And together with China, the NAFTA markets are the biggest growth drivers for our engineering and chemical products and solutions,” he added.