Hirsch Servo Expands EPS Insulation Business
Driving expansion of its EPS Insulation division, the Austrian Hirsch Servo Group reached an agreement to purchase Arcon SRL’s insulation business from the Romanian company. The acquisition of the two insulation plants in Bucharest and Sfantu Gheorghe together with the recently purchased factory in Timisoara/Romania and its own facility in Cluj will make Hirsch Porozell S.r.l. the second largest insulation manufacturer in Romania in the future.
By selling its EPS insulation segment, the owner of Arcon SRL, a producer of insulation and bituminous roofing membranes, is planning to concentrate on the membrane business. The contract is subject to conditions precedent, such as approval of the transaction under anti-trust legislation by the Romanian competition authorities. Both parties agreed to keep the sale price confidential.
“We aim to continue expanding our Insulation division and secure it in the long term with our acquisition of Arcon’s insulation business,” says Harald Kogler, CEO of Hirsch Servo AG. The market for insulation in Romania is performing well and has generated good revenue and growth for HIrsch since market entry in 2006. “In addition, given the excellent geographical location of the sites in combination with the experienced workforce, we also expect positive synergy effects for the Packaging division,” adds Kogler.
HIRSCH Servo AG
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.