Oerlikon acquiring hot runner maker INglass
Canadian PlasticsPlastics Processes
The deal also includes INglass's HRSflow division.
In a move that helps it expand into the polymer processing solution market, Swiss-based technology supplier Oerlikon is acquiring Italian hot runner maker INglass S.p.A. for an undisclosed price.
In an April 23 news release, officials with Oerlikon in Pfaeffikon, Switzerland, said that INglass and its HRSflow division are “highly complementary” to Oerlikon’s existing capabilities in polymer flow control and will expand the company’s market access.
“The acquisition of INglass accelerates our strategy to expand into markets with strong growth potential. It will broaden our OEM customer base in other industries and put our polymer processing business on an entirely new growth trajectory,” said Dr. Roland Fischer, Oerlikon Group CEO. “Additionally, we expect this acquisition to create further synergies between our polymer processing and surface solutions divisions.”
Headquartered in San Polo di Piave, Italy, near Venice, INglass was founded in 1987, and its hot runners are used in a range of industries, from automotive, consumer goods and household appliances to packaging, waste management, construction and transportation. It has more than 1,000 employees and 55 sites worldwide, including production plants in Italy, China, and the U.S.
HRSflow, which directly serves INglass’s OEM customers in the automotive and other industries, will be integrated into Oerlikon’s high precision flow control components business, the news release said, which is part of the Oerlikon polymer processing solutions division.
The deal is expected to close in the second quarter of 2021.