Oerlikon's agreement to acquire INglass, as announced in April 2021, indicates a strategic move for Polymer Processing Solutions, previously called Manmade Fibers. This move is in line with the Division's growth strategy to reposition itself and gain a strong foothold in the polymer processing market.
The increasing demand for sustainable, lightweight and durable solutions is driving the usage of polymers across industries such as automotive, construction and packaging. For example, in new vehicles, including electric and hybrid vehicles, weight reduction is very important to reduce energy consumption. This strategic acquisition will accelerate and enhance the Division’s organic initiatives to grow its polymer processing capabilities and products, as it further diversifies into new growth areas.
INglass is a market leader in providing hot runner systems under the brand HRSflow. These systems are used to enable effective and energy-saving plastic injection molding. In 2020, INglass had sales of approximately CHF 135 million and a global workforce of around 1 000 employees. Pending the customary merger control approvals, the acquisition is expected to be completed in the second quarter of 2021. Once completed, INglass will be integrated with the existing polymer flow control business into the new Business Unit Flow Control Solutions, which will become a pillar of growth for the Division.
About Oerlikon
Oerlikon (SIX: OERL) is a global innovation powerhouse for surface engineering, polymer processing and additive manufacturing. The Group’s solutions and comprehensive services, together with its advanced materials, improve and maximize the performance, function, design and sustainability of its customer’s products and manufacturing processes in key industries. Pioneering technology for decades, everything Oerlikon invents and does is guided by its passion to support customers’ goals and foster a sustainable world. Headquartered in Pfäffikon, Switzerland, the Group operates its business in two Divisions – Surface Solutions and Polymer Processing Solutions. It has a global footprint of more than 10 600 employees at 179 locations in 37 countries and generated sales of CHF 2.3 billion in 2020.
