Nordson acquires two German polymer processors

22-Jul-13
Nordson acquired two polymer processing companies from Germany's Kreyenborg Group for a total of 135 million euros (US$176.5 mln), according to a July 18 regulatory filing with the Securities and Exchange Commission. The two German companies Nordson acquired are Munster-based Kreyenborg and BKG Bruckmann & Kreyenborg Granuliertechnik, according to the July 16 SEC filing. Material terms of the transaction are being provided in required regulatory filings. The transaction is expected to close within the next 60 days pending customary closing conditions and regulatory reviews. “These businesses are highly complementary to our other recent acquisitions in the polymer processing space and fit our strategy of providing our customers with high value, mission-critical melt stream components that will enhance the performance of their systems.” “These businesses are highly complementary to our other recent acquisitions in the polymer processing space and fit our strategy of providing our customers with high value, mission-critical melt stream components that will enhance the performance of their systems,” said Nordson President and CEO Michael F. Hilton. “These businesses also immediately strengthen our relationships with key European OEM customers, deepen and expand our product offering, enhance our overall application expertise, expand our addressable market, and add recurring revenue opportunities to the portfolio. We expect to build on the current strong performance of these companies by leveraging Nordson’s scale, global footprint and continuous improvement competencies. Nordson manufactures and distributes screen chargers, valves, pumps and components for processing polymers. Both the German companies are involved in the production of special polymers. The acquisition of the German companies will extend Nordson's business into pelletizers production, a component used in polymer recycling. The deal also will extend Nordson's footprint to the Asian markets of Shanghai and Kuala Lumpur, Malaysia. Over the past year, Nordson has strengthened its hold in the polymer market by seeking strategic add-ons. Nearly a year ago, on July 21, it purchased New Castle, Pa.-based Xaloy Superior Holdings Inc. for $200 million. Xaloy is involved in the production of melt delivery components used in plastic processing. Before that deal, Nordson on May 21, 2012, purchased Chippewa Falls, Wisc.-based EDI Holdings Inc. for $200 million. EDI is involved in the manufacture of polymers used for plastic processors and web converters.
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