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INglass S.p.A. (S.Polo di Piave, Italy), a supplier of molds and hot-runner systems for lighting applications, has announced the acquisition of ERMO (Marcille-la-Ville, France), a manufacturer of multicavity precision molds. The deal is expected to close in June.

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Automotive mold supplier INglass seeks diversification via ERMO acquisition

INglass S.p.A. (S.Polo di Piave, Italy), a supplier of molds and hot-runner systems for lighting applications, has announced the acquisition of ERMO (Marcille-la-Ville, France), a manufacturer of multicavity precision molds. The deal is expected to close in June.

inglass-290.jpgThe acquisition will allow INglass to diversify its product offerings, which currently target predominantly the automotive sector. In particular, it hopes to make inroads in the medical, caps and closures, personal care, and cosmetics sectors, where Ermo has a strong presence, Caterina Boschetti of the InGlass marketing department told PlasticsToday.

The two companies will continue focusing on their key activities, capitalizing on synergies arising from this transaction, according to a press release distributed today. ERMO will benefit from the global presence of INglass, which is active in more than 50 countries and operates two plants in Italy and one in Hangzhou, China. A third plant is scheduled to open soon in the United States.

ERMO, which is focused on multicavity and multicomponent molds for large-volume, low-weight applications, operates five facilities in France and Poland.

Under the terms of the transaction, INglass S.p.A. will acquire 100% of AURCA, the holding company that owns approximately 83.25% of ERMO, and 11.7% of ERMO shares. Following the acquisition of majority shares, in accordance with current legislation, INglass will launch a tender offer to acquire ERMO's remaining capital.

INglass and ERMO will jointly employ 800 people and anticipate a turnover of €110 million in 2014.

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