Inglass adds to mould specialisation with Ermo acquisition
Inglass adds to mould specialisation with Ermo acquisition

Italian specialist in lighting application moulds/hot runners Inglass has acquired Ermo, a French company that manufactures multi-cavity high precision moulds. The deal is expected to close in June. This transaction will lead Inglass to a further diversification process development of its activities from the automotive sector that is prevalent today.

Ermo will benefit from the global presence of Inglass that is present in more than 50 countries at international level with local branches and two production plants in Italy and in China (Hangzhou) and the third opening soon in the US, as well as its strong presence in the Asian market.

Ermo's multi-cavity mould specilisation will allow Inglass to achieve a broader customer portfolio, improving the supply of mould products with a wider variety of solutions. The sharing of knowledge and organisational arrangements will also allow to offer the best support, regardless of the project complexity and location, say the firms.

Ermo was founded in 1979 by the current Chairman and shareholder Jean Yves Picherau. Today the company operates in Europe with five production plants located in France and Poland.

Under the transaction terms, Inglass will acquire the 100 % stock of AURCA, the holding company which owns approximately 83.25% of Ermo, together with a further portion of shares of Ermo equal to 11,7%. Following the acquisition of the majority, in accordance with current legislation, Inglass will launch a tender offer to acquire the remaining capital of Ermo aimed at the company delisting.

Inglass and Ermo will jointly represent a group of 800 employees and an expected turnover of EUR110 million in 2014.

(IMA)

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