INglass acquires the French company Ermo

Company specialized in the manufacturing of moulds and hot runner systems, INglass has acquired Ermo, a French company producing multicavity high precision moulds. The deal is expected to close in June. Under the transaction terms, INglass will acquire the 100% stock of Aurca, the holding company which owns approximately 83.25% of Ermo, together with a further portion of Ermo shares equal to 11,7%. Following the acquisition of the majority, INglass will launch a tender offer to acquire the remaining capital of Ermo aimed at the company delisting.
INglass and Ermo will jointly represent a group of 800 employees and an expected turnover of 110 million dollars in 2014. This transaction will lead INglass to a further diversification process development of its activities from the automotive sector that is prevalent today. The company made this decision in order to create a leading supplier of moulds and services with high technological content in all high demanding sector of the plastic moulding process, ranging from automotive lighting to personal care, cosmetics, medical and closures.
The two companies will continue focusing on their own key activities, capitalizing on the synergies arising from this transaction. Ermo indeed will benefit from the global presence of INglass which, assisting more than 50 countries with local branches and two production plants in Italy and in China, and the third opening soon in the US, and with a strong presence in the Asian market, will allow Ermo to have a technical and commercial capillary support for customers around the world and to improve the overall operational efficiency.
"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 multicomponents moulds for the automotive lighting field. Ermo, in particular, was chosen due to its excellent knowledge and the high reliability of its products, as well as the innovative spirit that we have in common", commented Maurizio Bazzo, founder and president of INglass.