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November 30, 2021 10:25 AM

Germany's Meteor buys US-based Creative Extruded, halting closure

Sarah Kominek
Sarah Kominek
Staff Reporter
Plastics News Staff
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    CreativeExtrudedProducts_i.jpg

    Tipp City, Ohio, Creative Extruded Products has more than 200 employees.

    Bockenem, Germany-based Meteor Group has acquired Ohio-based Creative Extruded Products LLC, now called Meteor Creative Inc.

    The acquisition is a reversal to an announcement in October that Creative Extruded was permanently closing on Dec. 31, because of a planned sale of the company that fell through.

    Creative, which makes plastic and rubber moldings for the automotive glass market, "will add key know-how and technology in thermoplastic products, including PVCs, ABS, polycarbonate, TPR, TPV, TPO and others, to Meteor," a Nov. 30 news release said.

    “We are scanning the [North American] market as part of our international growth strategy,” Jeen Mastenbroek, head of sales and marketing at Meteor, told Plastics News in an email. “Our main focus is on integrating Creative in the Meteor Group and focus on the existing and new customers.”

    The purchase will also reinforce Meteor's "already strong portfolio of EPDM rubber for both dense and sponge materials."

    "The acquisition is an important milestone in our long-term strategy to grow in North America and expand our product portfolio," Robert Roiger, Meteor CEO, said in the release. "[It] will enable us to serve our renowned U.S. customer base with a broader technology focus.

    "We are looking forward to working closely with Creative's highly motivated employees and workforce on building this successful new chapter for Meteor Creative," he added.

    With 2020 sales of $180 million (€158 million), Meteor operates in Germany, the United States and Romania.

    Some of the group's OEM customers include Daimler, BMW, VW Group, the Stellantis Group and industrial clients such as Schüco.

    Meteor was acquired in 2019 by AEQUITA, a Munich-based investment firm.

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