In a Dutch-Dutch deal, Helvoet (NL-3223 Hellevoetsluis; www.helvoet.com), a producer of measuring, dosage and sealing systems for gas and water, along with specified elastomer-based industrial equipment, has acquired Philips High Tech Plastics Automotive (B-3920 Lommel; www.htp.philips.com) for an undisclosed sum. The business, which will trade in future as Helvoet Rubber & Plastics Technologies, manufactures high precision rubber and plastic components and assemblies for the automotive industry. It supplies 35% of all impellers for fuel pumps, made mainly from phenolic resins and PPS.

Following its takeover by private equity in 2002, Helvoet has been trying to reinforce its market position by manufacturing more specialities and increasing its geographical spread. The HTP deal will add 550 employees and sites in Belgium, the US, Mexico, India and China to its 400-strong workforce at Hellevoetsluis, Eindhoven, Singapore and Busan / South Korea.

CEO Peter van Vlimen called the Philips buy a “lottery ticket.” As manufacturers increasingly limit the number of suppliers, he said the new company “will be of a size that makes it better able to invest in both innovation and new production technologies.” While hinting at additional acquisitions, the CEO said “further growth” in the Chinese market also is in focus.