Nanogate (Quierschied-Göttelborn / Germany; www.nanogate.com) on 9 January completed its acquisition of an 80% majority stake in Jay Plastics (for previous coverage, see Plasteurope.com of 08.12.2016). In line with the agreement announced late last year, the business has been spun off from Jay Industries (Mansfield, Ohio / USA; www.jayindinc.com) and will now operate as Nanogate Jay Systems. The existing management is to remain in place.

By adding the US specialist for high-value plastic surfaces and components into its fold, Nanogate not only expands its access to the market, but also gains production facilities in North America while at the same time strengthening its technology portfolio. The German company – which specialises in high-tech surfaces and components – expects the deal to significantly boost its 2017 sales, which could exceed EUR 150m this year. Despite the costs of the transaction and the integration, Nanogate also anticipates an improvement in its 2017 EBITDA.

Commenting on the completion, Nanogate CEO Ralf Zastrau said, “With the new majority holding in Jay Plastics, Nanogate is expanding its technology portfolio and its access to international markets, especially in the US, but also to Asian manufacturers.” The US company caters to automotive producers and suppliers in the US, Japan and South Korea, among others, and is also active in the household appliances segment. “The transaction will enable us to turn Nanogate into a global provider,” Zastrau added.