The transformation toward industrial rubber products continues for Semperit AG Holding.
With the $122.1 million sale of its Sempermed business unit (closing expected July 31), and the $216.4 million acquisition of LSR parts manufacturer Rico Group GmbH (closing expected Aug. 31), Semperit continues a journey to streamline its operations that began in 2020.
As such, Semperit will reorganize with new divisions, with changes in the C-suite for the global company as well.
Semperflex Managing Director Gerfried Eder has been promoted to the executive board, and longtime Chief Operating Officer Kristian Brok will leave the company.
"With Kristian Brok, Semperit is losing a manager with international experience in the polymer and elastomer sector, whom I would like to thank for his services over the past years," said Thomas Cord Prinzhorn, chairman of the executive board at Semperit A.G.
The company announced the changes at a June 30 meeting of the supervisory board.