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HEXPOL acquires leading Spanish Wire & Cable Compounder

March 04/2021

MOSCOW (MRC) -- HEXPOL has acquired 100% of VICOM 2002 S.L., a Spanish Polymer Compounder active in the interesting and growing product segment “wire and cable”, reported CISION.

VICOM’s turnover 2020 amounted to some 30 MEUR, is profitable and employs some 30 people in its production facility in Barcelona.

“Through the acquisition of VICOM, we strengthen our position in Southern Europe in a segment favored by the global electrification trend. The company has high competence and capacity and fits well into our current business structure”

The acquisition is expected to bring a lower positive profit contribution. We will immediately start the integration of VICOM into our current structure.

“This is another step in expanding and strengthening the HEXPOL group through an acquisition within our core Polymer Compounding business. VICOM will, through its competence and capacity, fit very well into the HEXPOL group and strengthen our position on a growing market”

The acquisition is funded by a combination of cash at hand and existing bank facilities. VICOM will be consolidated by HEXPOL from 1 March 2021.

As MRC informed before, in December 2019, polymer compounder Hexpol TPE, which has UK operations in Manchester, launched a new range of materials intended for cable sheathing applications in such sectors are telecommunications and electricity delivery.

We remind that Russia's output of chemical products rose in November 2020 by 9.5% year on year. At the same time, production of basic chemicals increased in the first eleven months of 2020 by 6.6% year on year, according to Rosstat's data. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the January-November 2020 output. November production of polymers in primary form rose to 896,000 tonnes from 852,000 tonnes in October. Overall output of polymers in primary form totalled 9,240,000 tonnes over the stated period, up by 17.1%  year on year.

HEXPOL is a world-leading polymers group with strong global positions in advanced polymer compounds (Compounding), gaskets for plate heat exchangers (Gaskets), and plastic and rubber materials for truck and castor wheel applications (Wheels). Customers are primarily systems suppliers to the global automotive and engineering industry, construction industry, the energy, oil and gas sector, medical equipment manufacturers and OEM manufacturers of plate heat exchangers and forklifts. The Group is organised in two business areas, HEXPOL Compounding and HEXPOL Engineered Products. The HEXPOL Group’s sales in 2020 amounted to 13,424 MSEK. The HEXPOL Group has approximately 4,600 employees in fourteen countries.
Author:Margaret Volkova
Tags:Europe, propylene, ethylene, cable extrusion, compounding, car components, petrochemistry, construction, cable, Hexpol, Spain, Russia.
Category:General News
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