Nief Plastic acquires Germany's Poschmann
By Charlotte Eyre, European Plastics News Posted 5 July 2012
France-based Nief Plastic Group is expanding in Europe by acquiring German thermoplastics producer Poschmann and its Polish subsidiary Poschmann Polska.
The company is not disclosing the terms of the deal, but chief executive Gilles Nief said there will be no job losses in France or Germany.
Nielf told European Plastics News the company was not currently looking at any other external growth projects but will instead focus on developing current projects with customers.
The acquisition will give Nief Plastic a development centre and production plant in Germany, as well as a second plant in Poland.
Poschmann, whose turnover totalled €35m (£28m) in 2011, specialises in thermoplastic and thermoset mouldings, as well as specialist technology such as injection moulding of hollow bodies from retractable core moulds.
Nief, which is present in the French, German, Polish, Hungarian, Slovakian, Tunisian and Moroccan markets, said the latest deal would give it a presence on both sides of the Rhine on “the two major European industrial markets”.
The group is expecting turnover of €200m (£161m) this year.
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