Oerlikon signs agreement to acquire INglass, a global leader in high precision polymer flow control equipment, to accelerate expansion strategy in polymer processing market
• INglass and its HRSflow Division is a market leader specialized in hot runner systems
• Technology is highly complementary to Oerlikon’s existing capabilities in polymer flow control and will expand Oerlikon’s market access
• Acquisition accelerates Oerlikon’s strategy in diversifying its manmade fibers business to expand into the high-growth polymer processing solution market
• Oerlikon renames ‘Manmade Fibers’ Division to ‘Polymer Processing Solutions’
• Acquisition is expected to be completed in the second quarter of 2021
Oerlikon, a leading provider of surface engineering, polymer processing and additive manufacturing, announced today that it has signed an agreement to acquire Italy-heaquartered INglass S.p.A. and its innovative hot runner systems technology operating under its market-leading HRSflow business.
“The acquisition of INglass accelerates our strategy to expand into markets with strong growth potential. It will broaden our OEM customer base in other industries and put our polymer processing business on an entirely new growth trajectory,” said Dr. Roland Fischer, Oerlikon Group CEO. “Additionally, we expect this aquisistion to create further synergies between our Polymer Processing and Surface Solutions Divisions.”
“With INglass, we are acquiring a leader in polymer flow control solutions with proven success in many markets,” added Georg Stausberg, CEO of the Oerlikon Polymer Processing Solutions Division. “Our combined know-how and expertise in polymer processing and melt distribution engineering, our global market presence and our well-established brands make a winning formula and will advance our goal to become a leading supplier for polymer processing in an attractive and growing component solutions market.”
The completion of the transaction is subject to customary regulatory approvals and closing conditions, and expected to take place in the second quarter of 2021.
INglass is a leader in automotive and expanding in other sectors
INglass S.p.A. is an internationally operating successful company established in 1987. Its product portfolio includes hot runners as well as engineering and consultancy services for the advanced development of polymer processing products. INglass’ HRSflow hot runner systems are applied in multiple industries from automotive, consumer goods and household appliances to packaging, waste management, construction and transportation. INglass is headquartered in San Polo di Piave, Italy, near Venice. 2020 revenues of INglass were approximately CHF 135 million and the acquisition is expected to be immediately accretive to Oerlikon’s margins and cash flows. INglass has more than 1000 employees and 55 sites worldwide, including prodution plants in Italy, China and the US. HRSflow directly serves OEM customers in the automotive and other industries.
New business unit with strong growth potential
Oerlikon has a high precision flow control components business that currently offers a large selection of gear metering pumps for the textile and other industries, including the automotive, chemical and paint markets. HRSflow will be integrated into this existing business to form the Oerlikon Flow Control Solutions BusinessUnit, which is part of the Oerlikon Polymer Processing Solutions Division.
“We firmly believe that within the Oerlikon Group we can further exploit the potential of our hot runner systems technology and, when combined with the capabilities of Oerlikon gear metering pumps and their melt distribution engineering competence, will position our business as one of the leading precision flow control specialists for multiple applications in a global growth market”, said Antonio Bortuzzo, CEO of INglass S.p.A.
Financing of the acquisition is ensured by existing credit facilities of OC Oerlikon.
Oerlikon (SIX: OERL) is a global innovation powerhouse for surface engineering, polymer processing and additive manufacturing. Its solutions and comprehensive services, together with its advanced materials, improve and maximize performance, function, design and sustainability of its customers’ products and manufacturing processes in key industries. Pioneering technology for decades, everything the company invents and does is guided by its passion to support its customers’ goals and foster a sustainable world. Headquartered in Pfäffikon, Switzerland, the Group operates its business in two divisions – Surface Solutions and Polymer Processing Solutions. It has a global footprint of more than 10600 employees at 179 locations in 37 countries and generated sales of CHF 2.3 billion in 2020.
INglass S.p.A. is an internationally operating successful company established in 1987. Its product portfolio includes hot runners as well as engineering and consultancy services for the advanced development of polymer processing products. INglass’ HRSflow hot runner systems are applied in multiple industries from automotive, consumer goods and household appliances to packaging, waste management, construction and transportation. INglass is headquartered in San Polo di Piave, Italy, near Venice. 2020 revenues of INglass were approximately CHF 135 million. INglass has more than 1000 employees and 55 sites worldwide, including production plants in Italy, China and the US. HRSflow directly serves OEM customers in the automotive business and other industries. www.inglass.it