Company completes purchase of Italian thermoplastic specialist
Technology services company Continental has successfully completed its purchase of Italian thermoplastic specialist Merlett Group.
This follows the unconditional approval by the relevant antitrust authorities. The agreement between the two companies was signed on July 1, 2019.
The acquisition will strengthen Continental’s materials expertise beyond rubber and deepen its specialist knowledge about the design, processing and handling of thermoplastics for industrial hose solutions.This is especially important in offering an even more diversified product portfolio to its customers.
“Thermoplastic know-how is essential in our transformation from a pure product supplier to a holistic supplier of systems and solutions in the field of industrial hoses. “The acquisition of Merlett is a major step forward for Continental because more diversification in products, markets and industries opens up new market opportunities,” says Continental industrial fluid solution business head Andreas Gerstenberger.
In its combined product portfolio of rubber and thermoplastic hoses, Continental is now able to offer a range of flexible hoses for the agriculture, construction, transportation and food industries and other growth sectors in the future.
Moreover, Continental will further strengthen the regional presence of its industrial hose business, especially in Europe. Merlett will add three production facilities in Italy and Switzerland, plus an extensive network of sales offices in 12 European countries with about 500 employees, to Continental’s industrial hose business.
“Together, we are close to the customer and can develop new sales markets. Merlett fits perfectly to further expand Continental’s resources to become the partner of choice for our customers from a range of industries. “We are delighted to welcome Merlett’s employees to the Continental family,” says Gerstenberger.
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