Bietigheim-Bissingen/Mönchengladbach (Germany), October 21, 2014 +++ ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, a subsidiary of ElringKlinger AG, has acquired from the former owners all interests in Polytetra GmbH, based in Mönchengladbach (Germany). The purchase agreements were signed on the day prior to this announcement.
Serving markets outside the automotive industry, the acquiree's technological focus is on developing and producing polymer-based heat exchangers and electric heaters used in industrial applications. The company's product portfolio also includes tubing and finished parts made of fluoropolymers and high-performance plastics.
The products are used primarily in the field of plant engineering, in the chemical industry, in the area of energy and power station technology as well as in the semiconductor industry. Polytetra can draw on many years of experience in R&D and has significant product expertise. In acquiring the company, ElringKlinger Kunststofftechnik GmbH has further strengthened its position in the industrial sectors outlined above, as well as securing additional growth opportunities in the production of modules and systems.
Product solutions centered around the generation of heat from surface waterbodies (geothermal energy), which can be used to supply houses, holiday homes and houseboats, are also considered promising from a commercial perspective. Additionally, the development pipeline currently includes polymer-based heat exchangers for power generation from wastewater and ventilation systems.
In 2013, the company recorded sales revenue of EUR 5 million, with an operating margin in high single figures. Polytetra employs 32 people at its site in Mönchengladbach. The entity is to be included in the scope of consolidation of the ElringKlinger Group effective from October 1, 2014. Inclusion in the ElringKlinger Group is aimed at leveraging the company's growth potential to a greater extent. Annual revenue growth, in percentage terms, is expected to be at the upper end of the single digit range.
ElringKlinger Kunststofftechnik GmbH produces seals/gaskets and structural components made of high-performance plastics such as PTFE, PTFE compounds, PFA and PEEK. Supplying products for specialty applications in the automotive sector, the mechanical engineering industry and the medical devices market, the Engineered Plastics segment generated sales of EUR 92.6 million in 2013.
Among the core competencies of Polytetra GmbH are its processing capabilities with regard to fluoropolymers and classic high-performance plastics. The company produces heat-shrink tubing made of PTFE, FEP or PFA, which includes all standard shrink rates and item lengths. Additionally, Polytetra designs, develops and produces various types of heat exchanger made of PFA, ECTFE, PVDF, PP and PE, which are supplied to a wide range of industries.
For further information, please contact:
ElringKlinger AG Corporate Communications / Investor Relations
Phone: +49 (0)7123-724-631; +49 (0)170-9246264;
Fax: +49 (0)7123-724-641