Image source: Continental
German technology company Continental has reached an agreement on the acquisition of the flexible plastic hose business of Merlett Group, based in Daverio, Italy. The terms of the deal, which is still subject to regulatory approval by antitrust authorities, were not disclosed.
Continental said that the acquisition of the plastic hose maker will expand its expertise beyond rubber, widen its regional presence and diversify its product portfolio. Merlett Group's three manufacturing plants in Italy and Switzerland, as well as its sales offices network Belgium, Denmark, Finland, France, Germany, Norway, Poland, Russia, Spain, Sweden, the Netherlands and the UK, were all covered in the deal.
The 500 Merlett employees already working for the company will join Continental's Industrial Fluid Solutions business unit.
The head of that unit, Andreas Gerstenberger, explained: “Smart hose solutions will help Continental’s customers and industrial operators improve their production efficiency and economic effectiveness. Thermoplastic know-how is key to doing so. That is why we are expanding our technological portfolio by acquiring Merlett Group.”
“This acquisition is another important step to become a global industrial solutions partner. Merlett Group has outstanding expertise in engineering, processing and handling thermoplastics. The performance of thermoplastic materials is increasing, which is broadening the long-term base for potential future sensor applications. That’s why we excellently complement each other,” Gerstenberger added.
Marco Tamborini, General Director at Merlett Group said: “We are delighted at the prospect of becoming part of the global Continental team. With our wide range of flexible hoses, a well-diversified customer base and a highly motivated team, we are able to contribute value added. This is a good foundation for a successful joint future. We have grown as a family business for the past six decades and now we are very proud to hand over to Continental to continue to advance the business and provide a new home for our employees.”
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