Röchling Engineering Plastics is acquiring German manufacturer of moulded engineering plastics components, Schwartz GmbH Technical Plastics, the company has announced.
Based in Xanten, Germany, Schwartz produces custom-made technical plastics for use in machine construction.
The company specialises in the production of high impact resistant plastics and large-sized and complex components – such as sheaves, pulleys and large-sized special castings - made of plastic materials like PA6G, PA12G and POM.
Schwartz has four production sites in Germany, the Czech Republic, China and the US, and employs 240 people.
The deal is pending the regulatory authorities' approvals. The terms of the deal have not been disclosed.
With this acquisition, Röchling expects to advance its growth strategy with new technologies such as the manufacture of large format cast parts from cast polyamide.
In particular, the Haren, Germany-based plastics company expects to benefit from Schwartz' expertise in conveying and lifting technology, the oil and gas industry, intralogistics and elevator construction, areas in which Schwartz is particularly active.
The acquired business will be integrated into Röchling's Industrial Division, whose machining group is already a key player in machining of thermoplastics and composites.
“With this acquisition we enhance our competence with new technologies and anticipate synergies with our global sites for the manufacture of machined parts,” said Franz Lübbers, member of the executive board and responsible for Röchling Group's Industrial Division.
The two companies according to Lübbers, have complementary capabilities, which allows them exploit new markets.
Post-acquisition, managing partner Stephan Peiffer, who has headed the Schwartz Group since 2001, will depart from the company.
Thomas Schlag and Ralf van Holt will continue working with Schwartz in their capacities as chief operating officer and chief technology officer respectively.
Heinz Dirksen, director of sales and marketing for the Röchling business unit Machined Components, will head Schwartz as CEO and chairman of the executive board.
Dirksen, together with Dietmar Telgenkämper, business unit director production and engineering, is also responsible for the machining activities at Röchling Industrial.