ARMACELL
Expansion in speciality foams / US acquisition
In a consequent continuation of the expansion strategy begun following its management buyout from Armstrong World Industries in 2000, Armacell International (D-48153 Münster; www.armacell.com) is acquiring three sites of RBX Industries (Roanoake,Virginia / USA; www.rbxcorp.com) in Illinois, Arkansas and North Carolina. RBX, which filed for Chapter 11 bankruptcy protection in February of this year, produces closed cell polyethylene and elastomer foams. The units will be integrated into Armacell´s “Technical Foam” division. In all, the manufacturer of insulation materials, cable sheating and speciality foams expects the takeover and subsequent expansion of the foams business to add USD 50m to its annual sales total. In 2003, Armacell, which employs 1,650 people at 15 locations in 11 countries, had sales of EUR 263m.
08.07.2004 Plasteurope.com [200473]
Published on 08.07.2004