German plastics converter Etimex Technical Components (Etimex TC; Rottenacker; www.etimex.de) is withdrawing from the US market. In mid-April, subsidiary Etimex USA was sold to Mexican injection moulder PlastiExports (Apodaca; www.plastiexports.net) via an investment vehicle known as Romeo Bravo USA. Thomas Hiebaum, managing director of Etimex, did not disclose the sales price when contacted by Plasteurope.com.

Etimex USA had 30 employees at the last count and generated annual sales equivalent to some EUR 10m through the production of plastic parts for household appliances. Hiebaum said the business did not have the “critical size” required for profitable operation on the US market. The subsidiary was also in the red – the 2019 annual report lists provisions of EUR 1.1m for offsetting losses.

The divestment reflects the consolidation and realignment strategy that has been vigorously pursued by Etimex (Dornbirn / Austria) over the past few years. The holding company sold the UK activities of packaging subsidiary Etimex Primary Packaging (Dietenheim / Germany; www.etimex-pp.com) to French group Guillin (Ornans; www.groupeguillin.fr) in summer 2018 (see Plasteurope.com of 05.07.2018). In October of last year, Etimex then announced the closure of its German production plant in Bad Salzdetfurth. As Hiebaum confirmed, the facility is to be closed by the end of 2021 as planned. Production will be divided over other sites in Germany and the Czech Republic.

The strategic realignment that Etimex is pursuing under its “DriveTo25” claim is aimed at focusing the business primarily on household appliances, mobility and medical technology. Hiebaum sees particular growth potential in e-mobility applications, such as for battery ventilation systems. Etimex currently generates around 70% of its overall sales of EUR 170m in the household sector. The automotive sector accounts for a further quarter of sales.