ElringKlinger Acquires Polytetra
ElringKlinger Kunststofftechnik GmbH, Bietigheim-Bissingen, Germany, a subsidiary of ElringKlinger AG, has acquired from the former owners all interests in Polytetra GmbH, based in Mönchengladbach, Germany. The purchase agreements were signed on the day prior to this announcement.
Serving markets outside the automotive industry, the acquiree's technological focus is on developing and producing polymer-based heat exchangers and electric heaters used in industrial applications. The company's product portfolio also includes tubing and finished parts made of fluoropolymers and high-performance plastics. The products are used primarily in the field of plant engineering, in the chemical industry, in the area of energy and power station technology as well as in the semiconductor industry. Polytetra can draw on many years of experience in R&D and has significant product expertise. In 2013, the company recorded sales revenue of EUR 5 million, with an operating margin in high single figures. Polytetra employs 32 people at its site in Mönchengladbach.
In acquiring the company, ElringKlinger Kunststofftechnik GmbH has further strengthened its position in the industrial sectors outlined above, as well as securing additional growth opportunities in the production of modules and systems. The entity is to be included in the scope of consolidation of the ElringKlinger Group effective from October 1, 2014.
ElringKlinger Kunststofftechnik GmbH
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