INglass completes the acquisition of ERMO
INglass SpA , an International plastics industry leader in lighting application molds and hot runner systems, announced today that it has completed its acquisition of ERMO , a French Company leader in the manufacture of multicavity high precision molds listed on C Euronext Paris segment.
INglass and ERMO jointly represent a group of more than 800 employees and six manufacturing plants in Italy, China, France, Poland – the seventh will be operating next year in the United States, Michigan, Grand Rapids – with an expected turnover of 110 Mil € in 2014.
ERMO is a significant player in multicavity moulds for medical, personal care, cosmetics and closures industry, employing cutting-edge equipments for premium product both in quality and performance results. INglass and ERMO joined by the continuous investment in technology developments through the common purpose of excellence, are committed to offer sales and technical skilled support available closer to customer’s site and to provide customer full project wherever the production is launched.
Under the transaction terms INglass s.p.a. has acquired the 100% of AURCA the holding company which owns approximately 83.25% of ERMO, together with a further portion of shares ERMO equal to 11,7%. INglass now will launch a tender offer to acquire the remaining capital of ERMO aimed at delisting of the French company.
“We are enthusiastic that ERMO is joining the INglass team and we trust in their expertise and professionalism for the great growing opportunities we expect in the high precision mold” states Maurizio Bazzo, president of INglass. “This decision will allow the company to choose and focus its resources in a niche of high precision molds, retracing the path taken by INglass for rotating multicolour and multi-components molds for the automotive lighting field”.Press Release OPA ERMO tender offer