SIMONA Aktiengesellschaft: Acquisition in the US plastics market
Wednesday, 01 August 2018
Kirn, 1 Aug 2018. The SIMONA Group has acquired Premier Material Concepts, LLC (PMC), Findlay, Ohio, USA. PMC is an extrusion company specializing primarily in the manufacture of plastic sheet products used in caravan, agricultural, and industrial applications. Employing more than 60 people, the company generated annual revenue of approx. USD 27 million in fiscal 2017. Focusing on attractive niche markets for thermoforming applications, PMC supplies high-performance plastics requiring specialist solutions and significant materials expertise. Among the key materials processed by the company are TPO, ABS, and combinations of vinyl and acrylic with ABS. PMC is renowned for its highly flexible production capabilities and its extensive in-house expertise in the field of product development. The company was owned by a private equity firm.
SIMONA enters into agreement for acquisition of Boltaron Performance Products, LLC
Tuesday, 01 April 2014
Kirn, 1 April 2014. SIMONA AG, Kirn, Germany, has today (31 March 2014, local time (Eastern Standard Time)) – via an indirect subsidiary in the US – signed an agreement to acquire the business operations of Boltaron Performance Products, LLC, Newscomerstown, OH, USA.
Boltaron is a leading North American producer of thermoplastic sheet products for components used in aircraft and mass-transit vehicle interiors as well as for applications within the construction, chemical process and semiconductor industries. Boltaron's manufacturing facility brings together extrusion, calendering and press laminating under one roof. Employing 90 people, the company generates annual sales of approx. USD 30 million. Both parties have agreed not to disclose details of the purchase price.
In acquiring the company, SIMONA AG has reaffirmed its strategy of expansion through targeted acquisitions in the important US plastics market as well as its commitment to unlocking new fields of application. At the same time, the acquisition of Boltaron will provide the company with direct access to the aerospace plastics market, which has been experiencing global growth recently.
The conclusion of this transaction is subject to several conditions. The Management Board anticipates that the transaction will be concluded in the course of April 2014.
The Management Board
SIMONA AMERICA INC. acquires Laminations Inc.
Wednesday, 08 January 2014
Kirn, 8 January 2014. Today SIMONA AMERICA INC., Hazleton, PA, USA, a wholly owned subsidiary of SIMONA AG, has acquired Laminations Inc., based in Archbald, PA, USA, effective 1 January 2014. Laminations Inc. is a leading US manufacturer of polyolefin and fluoropolymer sheet products with an annual turnover of approx. 30 Mill. US-Dollar and 110 employees. A large part of its production serves the US market. It also supplies specialty high density polyethylene and high performance fluoropolymer sheet products to customers in Europe and the Asia pacific region. The transaction will bring together the expertise and process engineering capabilities of both companies in the key fluoropolymer market.
In acquiring the company, SIMONA AMERICA strengthens its position in the US semi-finished plastics market. The takeover will allow SIMONA AMERICA to move into new fields of application, such as the outdoor recreational structures, furniture and the marine industry, all markets for specialized grades of high density polyethylene. In addition the acquisition expands its manufacturing capacity and extends its production methods. The combined materials expertise and processing technology of both companies also position SIMONA for increased application growth in global markets for high performance fluoropolymer sheet products.
The transaction is part of the strategy adopted by the SIMONA Group to internationalise its business, the aim being to systematically capture growth markets for plastics outside Europe and establish a significant position in those regions.
Both parties have agreed not to disclose details of the transaction.
The Management Board
Changes to the Executive Board of SIMONA AG
Tuesday, 20 September 2011
Kirn, 20/09/2011. Effective from 1 January 2012, Mr. Fredy Hiltmann (56) is to be appointed as a new member of the Executive Board of SIMONA AG. Mr. Hiltmann will oversee the area of Corporate Finance (Chief Financial Officer). Having completed a vocational training programme in the field of business, Mr. Hiltmann studied Economics & Business Administration (HWV). He held senior positions at a number of global corporations, including Siemens AG and Georg Fischer AG. Most recently, Mr. Hiltmann was employed as Chief Financial Officer by the Metalor Group. Mr. Hiltmann is Swiss national.
By mutual consent with the Board, Chief Sales Officer Detlef Becker (51) will step down from his active role as a member of the Executive Board at the end of 30 September 2011. He has been an Executive Board member of SIMONA AG since 1 April 2008. His role in the company will be assumed by Wolfgang Moyses, Chief Executive Officer of SIMONA AG. The Chairman of the Board of SIMONA AG, Hans-Werner Marx, would like to thank Mr. Becker for his committed contribution.
SIMONA restructures its Management Board
Friday, 26 February 2010
Kirn, 26/02/2010. SIMONA AG will be restructuring its Management Board for economic reasons. The company’s Supervisory Board has decided not to extend the contract with Mr. Jochen Feldmann, which is scheduled to end on 31 December 2010. Mr. Feldmann was the Management Board member responsible for Controlling, Accounting, Purchasing, IT/Organisation and Quality Management.
The Supervisory Board has expressed its thanks to Mr. Feldmann for his committed and successful contribution to the work of the SIMONA Management Board. The areas previously directed by Mr. Feldmann will be covered with immediate effect by Wolfgang Moyses, CEO of SIMONA AG.
SIMONA confirms closure of Würdinghausen site
Thursday, 05 November 2009
Kirn, 05/11/12009. SIMONA AG has reached a decision to close its Würdinghausen production facility at the earliest possible date due to significant losses incurred by the plant. Prior to making its decision, the company had entered into intensive and substantive negotiations with both the works council and the trade union; these efforts also included the involvement of an independent appraiser. The closure will affect 78 members of staff responsible for producing pressed sheets, profiles and finished parts at the facility, mainly for customers operating within the mechanical engineering and transport systems sector.
The product range manufactured at the company's plant in Würdinghausen will be integrated into other existing SIMONA sites. SIMONA is currently in negotiations with the works council and trade union concerning a reconciliation of interests as well as a redundancy and retraining plan.
This ad hoc announcement supplements the ad hoc announcement issued on 13 August 2009.
SIMONA considers closure of Würdinghausen production plant
Thursday, 13 August 2009
Kirn, 13/08/2009. SIMONA AG is considering closing its Würdinghausen production facility due to significant losses incurred by the plant. The decision will affect 84 members of staff responsible for producing pressed sheets, pro-files and finished parts at the facility, mainly for customers operating within the mechanical engineering and transport systems sector. The product range manufactured at the company's plant in Würdinghausen is to be integrated into other existing SIMONA sites.
The plans are to be implemented in a manner that is as socially acceptable as possible. The company's management is cur-rently in negotiations with the works council and the trade union concerning a reconciliation of interests and for the purpose of drawing up a redundancy and retraining plan.
SIMONA in first half: positive earnings despite severe decline in revenue
Friday, 31 July 2009
Kirn, 31/07/2009. The SIMONA Group has proved robust during the current economic crisis. A significant downturn in orders from the core sectors of chemicals and mechanical engineering resulted in a severe decline in revenue. Despite this situation, however, the Group managed to achieve positive earnings, supported by a timely package of streamlining measures as well as the company's solid market position.
In the first six months of 2009 the SIMONA Group generated revenue of EUR 106.3 million, corresponding to a decline of 32.3 per cent compared to the very solid first half of 2008, when sales revenue stood at EUR 157.1 million. As Wolfgang Moyses, Chief Executive Officer, today told the Annual General Meeting, pre-tax earnings amounted to EUR 3.5 million (prev. year: EUR 13.5 million).
Further details will be published on 26 August 2009 as part of the interim report for the first half.
SIMONA sells joint-venture interest in GF Piping Systems - Focus on core segment of chemical and industrial operators within fluoropolymer market
Thursday, 31 January 2008
Kirn, 31/01/2008. Effective from January 1, 2008, GF Piping Systems, Schaffhausen (Switzerland), will acquire the 50% interest of SIMONA AG in the joint-venture enterprise Georg Fischer SIMONA Fluorpolymer Products GmbH, Ettenheim. Both parties have agreed not to disclose details relating to the sale.
Established in 2002, the joint venture specialising in high-purity piping systems, including those used in the semiconductor industry, has one of the most modern cleanroom production facilities worldwide.
In future, SIMONA's main focus will be on expanding its business within the core sectors of chemicals and industry within the fluoropolymer market. SIMONA and GF Piping Systems will continue their long-standing collaboration at an operational level.
SIMONA acquires plastics business from 'Deutsche Holzveredelung Alfons und Ewald Schmeing oHG'
Wednesday, 30 August 2006
Kirn, 30/08/2006. As part of an asset deal, the SIMONA Group will acquire the plastics business of Deutsche Holzveredelung Alfons und Ewald Schmeing oHG, based in Kirchhundem-Würdinghausen (North Rhine-Westphalia), effective from 1 October 2006. The plastics operations of Deutsche Holzveredelung, which encompass the Dehoplast brand, generate revenues of approx. €18 million and include the manufacture and sale of pressed sheets, extruded sheets, solid rods, profiles and finished parts made principally of polyethylene (PE) and polypropylene (PP). Both parties have agreed not to disclose details of the purchase price.
In acquiring Dehoplast, SIMONA will be able to complement its existing product range of semi-finished technical plastics and add to its portfolio by including finished parts. The finished-parts business includes the manufacture of components deployed within the area of mechanical engineering as well as in transportation and storage technology. The acquisition will allow SIMONA to enhance its position as a leading supplier of semi-finished plastics for industrial applications.
The plastics business also includes the manufacture of cutting boards, which are marketed under the frisylen ® brand. The Dehoplast unit produces its semi-finished plastics and finished parts at two factories, located in Kirchhundem-Würdinghausen and in Hilchenbach-Lützel, Siegerland region. In total, Dehoplast employs around 100 members of staff, who will be taken on by SIMONA.
Operations within the area of compressed laminated wood, an area covered by the dehonit® brand, will remain with Deutsche Holzveredelung Alfons und Ewald Schmeing oHG.
As part of the takeover, the technical expertise associated with the various locations of Dehoplast and SIMONA is to be further extended within the framework of a new business location concept yet to be drawn up.
This is a translation from German into English. Only the German document shall be considered authoritative.