Oerlikon, Pfaeffikon, Schwyz, Switzerland, a provider of surface engineering, polymer processing and additive manufacturing, has announced it has signed an agreement to acquire San Polo Piave, Italy-headquartered INglass S.p.A. and its innovative hot runner systems technology operating under its market-leading HRSflow business. The technology is highly complementary to Oerlikon’s existing capabilities in polymer flow control and will expand Oerlikon’s market access. The acquisition accelerates Oerlikon’s strategy in diversifying its manmade fibers business to expand into the high-growth polymer processing solution market. Oerlikon has renamed its Manmade Fibers Division to Polymer Processing Solutions.
Dr. Roland Fischer, Oerlikon Group CEO, stated that the acquisition of INglass accelerates the company’s strategy to expand into markets with strong growth potential. It will broaden its OEM customer base in other industries and put its polymer processing business on an entirely new growth trajectory. The company expects this acquisition to create further synergies between its polymer processing and surface solutions divisions.
The completion of the transaction, subject to customary regulatory approvals and closing conditions,is expected to take place in the second quarter of 2021. Financing of the acquisition is ensured by existing credit facilities of OC Oerlikon.
INglass S.p.A. is an internationally operating company established in 1987. Its product portfolio includes hot runners, as well as engineering and consultancy services for the advanced development of polymer processing products. INglass’ HRSflow hot runner systems are applied in multiple industries from automotive, consumer goods and household appliances to packaging, waste management, construction and transportation. 2020 revenues of INglass were approximately CHF 135 million and the acquisition is expected to be immediately accretive to Oerlikon’s margins and cash flows. INglass has more than 1,000 employees and 55 sites worldwide, including production plants in Italy, China and the US. HRSflow directly serves OEM customers in the automotive and other industries.
Oerlikon has a high precision flow control components business that currently offers a large selection of gear metering pumps for the textile and other industries, including the automotive, chemical and paint markets. HRSflow will be integrated into this existing business to form the Oerlikon Flow Control Solutions Business Unit, which is part of the Oerlikon Polymer Processing Solutions Division.
For more information, visit www.oerlikon.com.