NOLATO
Acquisition of US injection moulder Contour Plastics / Expanding the medical portfolio
In a move to further expand their expertise and regional presence in the medical field, Sweden’s Nolato group (Torekov; www.nolato.se) has acquired US injection moulder Contour Plastics (Baldwin, Wisconsin; www.contour-plastics.com). The purchase price for the US company which employs some 180 workers and is expected to post sales of USD 22m this year was about USD 22m.
Nolato says the acquisition, consolidated with effect from 26 July, will afford it a foundation on which to establish production in North America. The new company will be named Nolato Contour. Founded in 1990 by Barry Grant, who will stay on as manager after the sale is completed, Contour Plastics’ 9,000 m2 headquarters in Baldwin include 700 m2 of clean rooms.
Nolato posted revenues of about EUR 245m in 2009, 27% of which were generated by the medical segment. Concerning Ebitda, at 12.9% the medical division’s margins were noticeably higher than those of the telecom (7.9%) and industrial (2.3%) segments.
Nolato says the acquisition, consolidated with effect from 26 July, will afford it a foundation on which to establish production in North America. The new company will be named Nolato Contour. Founded in 1990 by Barry Grant, who will stay on as manager after the sale is completed, Contour Plastics’ 9,000 m2 headquarters in Baldwin include 700 m2 of clean rooms.
Nolato posted revenues of about EUR 245m in 2009, 27% of which were generated by the medical segment. Concerning Ebitda, at 12.9% the medical division’s margins were noticeably higher than those of the telecom (7.9%) and industrial (2.3%) segments.
28.07.2010 Plasteurope.com [216878]
Published on 28.07.2010
German version of this article...