Schweiter Technologies: Further expansion of composite activities
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Schweiter Technologies: Further expansion of composite activities
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Horgen, July 3, 2017 - Schweiter Technologies is further strengthening its
composite business and has entered into an agreement to acquire Athlone
Extrusions, Ireland, a leading manufacturer of coloured opaque multilayer
plastic sheeting. In 2016, Athlone generated sales of approx. EUR 62 million.
The agreed enterprise value for Athlone Extrusions, (on a cash free/debt free
basis) is EUR 48 million. The transaction is expected to be completed by the end
of July 2017.
Athlone Extrusions (www.athloneextrusions.ie) is based in Athlone, Ireland and
is one of the leading manufacturers of coloured opaque multilayer plastic
sheeting in Europe. The plastic sheets are primarily used by thermoformers who
manufacture parts for the automotive industry (low series recreational,
agriculture, and construction vehicles), sanitary ware industry (shower trays,
bath panels), office equipment, point of sale and furniture industries. Athlone
has highly developed expertise in the manufacture of complex multilayer sheets
in customer specific colours which combine the advantages of consistent embedded
colour, surface finish, ease of thermoforming, light weight and recyclability.
Athlone Extrusions has one of the largest scale production sites in Europe. It
has a very experienced sales team with local representatives based in several
European countries and a total workforce of 175 persons.
In acquiring Athlone, Schweiter is strengthening the transport & industry
business of the 3A Composites division, following the successful acquisition and
integration of Foamalite (2012) and Polycasa (2015). The coloured opaque
multilayer materials produced by Athlone will ideally complement the existing
product range of various hard and light foam materials, aluminium sandwich
panels and transparent and opaque plastics sheets. The acquired business will
gain strength and improved market position through access to the wider 3A
Composites network of production plants and personnel across Europe. Thanks to
its focus on product development, quality and customers, Athlone is an excellent
complement to the existing activities.
In light of current events, a Media and Analyst Conference will be taking place
at the Hotel Marriott, Zurich, at 11.00 on 3 July 2017.
For further information please contact:
Martin Klöti, CFO
Tel. +41 44 718 33 03, fax +41 44 718 34 51, martin.kloeti(at)schweiter.com
Please find the Media release in the PDF attached:
Media release (PDF):
http://hugin.info/100347/R/2117162/805878.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Schweiter Technologies via GlobeNewswire
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