Nov 13 2009
On 4 November 2009 Sekisui Alveo, leading European manufacturer of cross-linked polyolefin foams, signed an agreement to purchase the German company Polymer-Tec GmbH. On 1 January 2010 the subsidiary of Polymer-Chemie GmbH will be merged into Sekisui Alveo AG. Operations at Bad Sobernheim will remain completely intact; all 73 employees of Polymer-Tec will remain employed. With this acquisition, the price of which remains undisclosed, Sekisui Alveo expands its portfolio and technical know-how into the field of non-cross-linked polyolefin foams, and Polymer-Tec benefits by gaining use of Sekisui Alveo's pan-European distribution network.
This strategic move further strengthens Sekisui Alveo's position as a leading partner for innovation in foam and provider of reliable high-quality products and services. The new product portfolio of physically cross-linked and non-cross-linked polyolefin foams combines the "best of both worlds", says the management.
"At Sekisui Alveo we have been studying options of expanding business for quite some time, to respond even better to the growing and ever-changing demands of the market", tells Igor Allinckx, CEO of Sekisui Alveo AG. "In Polymer-Tec we have found the perfect partner, because we are both providers of very high-quality products, technologies, and services. In the future we will be able to offer our customers physically cross-linked and non-cross-linked polyolefin foams from a single source. This product portfolio and this comprehensive know-how will be unique in Europe."
Dr. Dirk Kropp adds: "Both companies will benefit from the synergy. Our mutual goal is the creation of precisely tailored solutions that we develop in close collaboration with our customers. Polymer-Tec and Sekisui Alveo can both learn from each other's experience, and further optimise their technologies and services." In January 2010 the current CEO of Polymer-Tec will become a member of the executive board of Sekisui Alveo.
The integration of Polymer-Tec into Sekisui Alveo will begin in January 2010 and is scheduled to be complete by midyear. The new company will have about 480 employees. Further business figures cannot be reported at this time because the business year of Sekisui Alveo ends December 2009.