Rehau Verwaltungszentrale AG completed the acquisition of MB Barter & Trading AG (MBT) after being given the green light by antitrust authorities.
The deal brings together two Swiss family-owned companies, combining Rehau's expertise in materials, process engineering and applications with MBT's expertise in global material logistics and distribution. As part of the deal, Rehau's plastic-processing subsidiary, Rehau GmbH, and its related businesses will "gradually merge" with MBT to create a new independent company expected to generate growth through new services and innovation.
The name for the combined companies will be announced in the first half of 2019 during a joint market launch likely to focus on the "best-of-both" cultures for technical projects, logistics and delivery.
"The successful completion of this transaction is an important milestone in the implementation of our vision to grow as a leading provider of polymer solutions and to further expand our business relationships. I am proud to have embarked on this path with MBT and look forward to working together in the future to advance modern polymer solutions and transform the industry," Stefan Girschik, CEO of the new company, said in a news release.
The new board of directors includes Jobst Wagner, who is currently board chairman of Rehau Group, and Thomas Endres, who is currently board chairman of MBT.
In addition to Girschik, the new management team includes Philipp Endres, who will be the deputy CEO, and Marco Zahnd as chief financial officer.
Founded in 1948, Rehau Verwaltungszentrale AG is the holding company of the Rehau Group, which employs more than 20,000 people at 170 sites serving the construction, automotive and industrial sectors. Rehau GmbH and its subsidiaries will be the businesses that merge with the acquired MBT and its subsidiaries.
Founded in 1982, MBT distributes and trades commodity polymers, PET and rubber with about 250 employees at 30 sites.
Rehau and MBT completed their deal in December but had announced it three months earlier, when they reportedly signed an agreement for a merger of equals to create a polymer group with potential sales of $2.5 billion.
