ElringKlinger AG

  • WKN: 785602
  • ISIN: DE0007856023
  • Land: Deutschland

Nachricht vom 21.10.2014 | 16:55

ElringKlinger acquires specialty plastics producer Polytetra


DGAP-News: ElringKlinger AG / Key word(s): Acquisition

21.10.2014 / 16:55

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Bietigheim-Bissingen/Mönchengladbach (Germany), October 21, 2014 +++
ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, a subsidiary of
ElringKlinger AG, has acquired from the former owners all interests in
Polytetra GmbH, based in Mönchengladbach (Germany). The purchase agreements
were signed on the day prior to this announcement.

Serving markets outside the automotive industry, the acquiree's
technological focus is on developing and producing polymer-based heat
exchangers and electric heaters used in industrial applications. The
company's product portfolio also includes tubing and finished parts made of
fluoropolymers and high-performance plastics.

The products are used primarily in the field of plant engineering, in the
chemical industry, in the area of energy and power station technology as
well as in the semiconductor industry. Polytetra can draw on many years of
experience in R&D and has significant product expertise. In acquiring the
company, ElringKlinger Kunststofftechnik GmbH has further strengthened its
position in the industrial sectors outlined above, as well as securing
additional growth opportunities in the production of modules and systems.

Product solutions centered around the generation of heat from surface
waterbodies (geothermal energy), which can be used to supply houses,
holiday homes and houseboats, are also considered promising from a
commercial perspective. Additionally, the development pipeline currently
includes polymer-based heat exchangers for power generation from wastewater
and ventilation systems.

In 2013, the company recorded sales revenue of EUR 5 million, with an
operating margin in high single figures. Polytetra employs 32 people at its
site in Mönchengladbach. The entity is to be included in the scope of
consolidation of the ElringKlinger Group effective from October 1, 2014.
Inclusion in the ElringKlinger Group is aimed at leveraging the company's
growth potential to a greater extent. Annual revenue growth, in percentage
terms, is expected to be at the upper end of the single digit range.

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ElringKlinger Kunststofftechnik GmbH produces seals/gaskets and structural
components made of high-performance plastics such as PTFE, PTFE compounds,
PFA and PEEK. Supplying products for specialty applications in the
automotive sector, the mechanical engineering industry and the medical
devices market, the Engineered Plastics segment generated sales of EUR 92.6
million in 2013.

Among the core competencies of Polytetra GmbH are its processing
capabilities with regard to fluoropolymers and classic high-performance
plastics. The company produces heat-shrink tubing made of PTFE, FEP or PFA,
which includes all standard shrink rates and item lengths. Additionally,
Polytetra designs, develops and produces various types of heat exchanger
made of PFA, ECTFE, PVDF, PP and PE, which are supplied to a wide range of
industries.

For further information, please contact:

ElringKlinger AG
Corporate Communications / Investor Relations
Stephan Haas
Max-Eyth-Straße 2
72581 Dettingen
Phone: +49 (0)7123-724-631; +49 (0)170-9246264; 
Fax: +49 (0)7123-724-641
E-mail: stephan.haas@elringklinger.de



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21.10.2014 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language:    English                                                 
Company:     ElringKlinger AG                                        
             Max-Eyth-Straße 2                                       
             72581 Dettingen/Erms                                    
             Germany                                                 
Phone:       071 23 / 724-0                                          
Fax:         071 23 / 724-9006                                       
E-mail:      stephan.haas@elringklinger.de                           
Internet:    www.elringklinger.de                                    
ISIN:        DE0007856023                                            
WKN:         785602                                                  
Indices:     MDAX                                                    
Listed:      Regulierter Markt in Frankfurt (Prime Standard),        
             Stuttgart; Freiverkehr in Berlin, Düsseldorf, Hamburg,  
             Hannover, München                                       
 
 
End of News    DGAP News-Service  
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292637 21.10.2014                                                      

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