SARNA
Takeover of Paulmann & Crone in Germany / Strong position in automotive industry
Sarna Kunststoff Holding AG (CH-6060 Sarnen) acquired 100% of Paulmann & Crone GmbH & Co KG (P&C, Breslauer Str. 25, D-585111 Lüdenscheid), effective 1 January 1996. P&C, with a workforce of 400, specialises in production of functional parts in automobile interiors (ash trays, drink holders, service elements, sunblinds, control lights), as well as manufacturers' emblems for cars. With turnover of around DM 100m in 1995, P&C occupies a strong position in the German automotive component supply industry, in particular for cars in the medium to upper price range.
According to Sarna, the acquisition is part of the "strategic extension and market focus" of the Sarnatech injection moulding division, which includes Sarnatech technamac Albert Eichhoff GmbH (Ostlandstr. 5, D-51709 Marienheide). This company and P&C in future will be managed jointly by the mds of the two previously separate units, Peter Crone (as chairman) and Jörk Gerwing, and plans are "to achieve market leadership in functional parts for auto interiors." Marketing, development and production are to be integrated in advance of a subsequent legal merger, in order to utilise synergies of the two production sites.
Acquisitions helped Sarna Kunststoff Holding AG to increase sales 2% in 1995 to Sfr 477m (467m). Due to a "disappointing Q4," both net profit and cash flow were only about 10% above the 1994 level. In the "Sarnafil" division (sealing systems and diaphragm constructions), sales declined 2% to Sfr 283. Business in Italy, the UK, France, the US and Canada was "gratifying." The injection moulding division improved turnover 12% to Sfr 139m, with 4% of the upturn acquisition-related. Earnings were in line with expectations, Sarna said. The other operating units saw a 2.4% rise in turnover to Sfr 55m.
At the beginning of 1995, Dr. Hanspeter Käser took over as group ceo from Dr. Hans-Jörg Merz. The "Sarnafil" division is now under the management of Karl J. Brandenburg. Dr. Merz will remain a member of the holding's supervisory board.
READER SERVICE: Further details on Sarna's 1995 business (German): PIE-No. 38866.
According to Sarna, the acquisition is part of the "strategic extension and market focus" of the Sarnatech injection moulding division, which includes Sarnatech technamac Albert Eichhoff GmbH (Ostlandstr. 5, D-51709 Marienheide). This company and P&C in future will be managed jointly by the mds of the two previously separate units, Peter Crone (as chairman) and Jörk Gerwing, and plans are "to achieve market leadership in functional parts for auto interiors." Marketing, development and production are to be integrated in advance of a subsequent legal merger, in order to utilise synergies of the two production sites.
Acquisitions helped Sarna Kunststoff Holding AG to increase sales 2% in 1995 to Sfr 477m (467m). Due to a "disappointing Q4," both net profit and cash flow were only about 10% above the 1994 level. In the "Sarnafil" division (sealing systems and diaphragm constructions), sales declined 2% to Sfr 283. Business in Italy, the UK, France, the US and Canada was "gratifying." The injection moulding division improved turnover 12% to Sfr 139m, with 4% of the upturn acquisition-related. Earnings were in line with expectations, Sarna said. The other operating units saw a 2.4% rise in turnover to Sfr 55m.
At the beginning of 1995, Dr. Hanspeter Käser took over as group ceo from Dr. Hans-Jörg Merz. The "Sarnafil" division is now under the management of Karl J. Brandenburg. Dr. Merz will remain a member of the holding's supervisory board.
READER SERVICE: Further details on Sarna's 1995 business (German): PIE-No. 38866.
15.05.1996 Plasteurope.com [20095]
Published on 15.05.1996