Horgen, February 11, 2015 – Schweiter Technologies is strengthening the 3A Composites division’s transportation business and has entered into an agreement to acquire Polish company Plastwag. Plastwag generated sales equivalent to around CHF 10 million in 2014. The agreed enterprise value for Plastwag is in the low double-digit million CHF range. The transaction is expected to be completed by the end of March 2015.
Plastwag (www.plastwag.pl) is a medium-sized Polish company which manufactures high-quality fiber-reinforced and thermoformed plastic components for the mass transportation sector. The company is located in Mielec, one of Poland’s largest special economic zones.
In acquiring Plastwag, 3A Composites is significantly strengthening its activities in the area of functionally integrated lightweight systems for energy-efficient buses and rolling stock. Centrally situated between Western and Eastern Europe, Plastwag is ideally positioned to serve the major plants of existing and new customers in Poland and neighboring countries. The acquisition will add new production technology offerings to the current product portfolio, marking an important step in the direction of system supplier. The Plastwag plant’s modern infrastructure and attractive location will increase the 3A Composites division’s competitive leverage in the transportation business over the long term.
For further information please contact:
Martin Klöti, CFO
Tel. +41 44 718 33 03, fax +41 44 718 34 51, email@example.com
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