The strategic acquisition is a significant step in expanding Oerlikon’s current manmade fibers business into the larger polymer processing market. The acquisition accelerates and enhances existing organic initiatives to diversify and strengthen the company’s core high-precision polymer flow control capabilities, products and services. The completion of the transaction is subject to customary regulatory approvals and is expected by the second quarter of 2021.
Oerlikon renames ‘Manmade Fibers’ Division to ‘Polymer Processing Solutions’
To reflect Oerlikon’s expansion into a larger high-growth market, the Manmade Fibers Division will be renamed as Polymer Processing Solutions Division. This division will have two business units: Flow Control Solutions and Manmade Fibers Solutions. The busines unit Flow Control Solutions will combine the expertise of Oerlikon Barmag’s existing gear metering pumps business line and INglass’ HRSflow operations. The business unit Manmade Fibers Solutions will continue to focus on growing the existing chemical fiber machinery and plant engineering business, offering plant solutions for the production of polyester, polypropylene and polyamide.
“Our new Polymer Processing Solutions Division and the acquisition of INglass S.p.A. and its HRSflow business are critical components of Oerlikon Group’s growth strategy. We are accelerating our efforts to drive sustainable organic and inorganic growth in all of our businesses. The acquisition enables new synergy opportunities between both Oerlikon divisions in specific end markets such as automotive. With INglass and its HRSflow operations, we acquire leading suppliers in their markets with proven success of their technologies and services,” said Dr. Roland Fischer, CEO Oerlikon Group.
“We firmly believe that within the Oerlikon Group we can further exploit the potential of our hot runner systems technology and, when combined with the capabilities of Oerlikon Barmag gear metering pumps and their melt distribution engineering competence, will position our business as one of the leading precision flow control specialists for multiple applications in a global growth market”, said Antonio Bortuzzo, CEO of INglass S.p.A.
Following the integration with Oerlikon Barmag’s gear metering pumps business of about 200 employees in Remscheid, Germany, the new Flow Control Solutions business unit will have round about 1 200 employees.
Studies continue to diversify the product portfolio
Combining the divisions plant engineering and process know how with expertise on high precision flow control components technologies has a significant impact on product quality in nearly all applications, which opens up a platform for further organic and inorganic growth. “We are closely observing the megatrends in the markets and developing new business models to match. In the area of sustainability, covering topics such as circular economy, the recycling of materials using mechanical and chemical recycling solutions, as well as the handling of new, more environmentally friendly and biodegradable materials, we are on the verge of a breakthrough. We are ready to actively participate in these growth areas,” added Georg Stausberg, Polymer Processing Solutions Division CEO and Member of the Executive Committee of the Oerlikon Group.
Oerlikon Group orders increased globally by 34.6% in the First Quarter
Oerlikon Group orders increased globally by 34.6% to CHF 643 million. Group sales improved by 7.2% to CHF 568 million, which is attributed to an increase in demand in the filament equipment, automotive and tooling industries in China and India.