PLASTIFLEX
Belgian hose maker to acquire German injection moulder Walter Potthoff
 Before the takeover by Plastiflex: The injection moulding company from Kierspe (Photo: Walter Potthoff)
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Hose manufacturer Plastiflex (Paal-Beringen, Belgium; www.plastiflex.com) is poised to take over German injection shop Walter Potthoff (Kierspe; www.w-potthoff.de).
Both sides have agreed on a corresponding purchase agreement, the Belgian company said. Financial and other details were not disclosed.
With the acquisition, Plastiflex said it intends to expand its portfolio of hoses for industry, domestic appliances, and healthcare to include associated injection moulded components.
Related: Belgian hose manufacturer invests in larger site in China
In addition, the Potthoff facility is to be established within the group of companies as a European injection moulding centre. Plastiflex’s production network would then include eight manufacturing facilities in Europe, North America, and Asia. The current workforce of more than 1,000 employees is to be boosted around 100 from the deal.
Norman Sack, to date the managing partner of Walter Potthoff, is to continue to lead the company and take on additional functions within the Plastiflex group.
Both sides have agreed on a corresponding purchase agreement, the Belgian company said. Financial and other details were not disclosed.
With the acquisition, Plastiflex said it intends to expand its portfolio of hoses for industry, domestic appliances, and healthcare to include associated injection moulded components.
Related: Belgian hose manufacturer invests in larger site in China
In addition, the Potthoff facility is to be established within the group of companies as a European injection moulding centre. Plastiflex’s production network would then include eight manufacturing facilities in Europe, North America, and Asia. The current workforce of more than 1,000 employees is to be boosted around 100 from the deal.
Norman Sack, to date the managing partner of Walter Potthoff, is to continue to lead the company and take on additional functions within the Plastiflex group.
17.01.2023 Plasteurope.com [251869-0]
Published on 17.01.2023
German version of this article...