Simona Group has expanded its offerings in thermoplastic sheet with the acquisition of Premier Material Concepts LLC of Findlay, Ohio.
"This gives us a tremendous range of multi-layer sheet," said Adam Mellen, chief sales officer and vice president of sales and marketing for Simona America Group, in a phone interview.
Simona announced its purchase of PMC for undisclosed terms on Aug. 1. PMC joins Simona's existing factories in Newcomerstown, Ohio, and Archibald, Pa., where it is headquartered. Simona acquired the Newcomerstown facility about four years ago when it bought Boltaron Performance Products LLC.
"PMC is also a good complement to our transportation business," Mellen explained. PMC counts recreational vehicles as a key market for its extruded sheet. Other important PMC markets are agricultural and various industrial sectors.
Simona's Newcomerstown operation focuses on sheet for thermoformed aircraft interior products. In Pennsylvania, Simona extrudes large-volume polyolefin and PVC sheet as well as specialty products for corrosion protection, semiconductor, recreation and construction industries.
Simona America now has 18 extrusion lines among its three production facilities. It also boasts four press lamination lines and a calendaring line.
Mellen said PMC allows it to offer a broader range of materials for sheet. Extruded thermoplastic polyolefins, fire-retardant ABS, polycarbonate/ABS, and combinations of PVC and acrylics with ABS are added to its product list. There is overlap with PMC's capabilities within Simona's fire-retardant products designed for semi-conductor applications and aircraft components.
Simona America logged annual sales of more than $110 million and employed about 245 before the recent acquisition. Its German parent company reported separately that PMC had sales of $27 million last year.
The PMC purchase hikes Simona's position in the U.S. market, the second largest market for Simona Group worldwide after Germany. The deal creates synergies by adding production capacity near the Boltaron subsidiary and allowing Simona's executive team to contribute to operational management of PMC, said Simona Group CEO Wolfgang Moyses in a news release. As well, PMC's existing management team of Tom Miller, Roger Jean and Eric Short will contribute to Simona's overall business in North America.
"Following the acquisition, we will be looking to build on the strong PMC brand and the company's excellent reputation in the U.S. market," noted Dean Li, newly appointed CEO of the Simona PMC business.
Simona America Inc. is a subsidiary of Simona AG of Kirn, Germany. Simona Group employs 1,300 worldwide and generates annual sales of about $460 million. The group makes some 35,000 products that include sheet, profiles, rod, pipes, fittings and welding rods.
Simona Group's global sales increased 2.3 percent in the first half of 2018. The publicly traded company also said its earnings before interest, taxes, depreciation and amortization rose 10 percent in the six-month period.
