Acquisition Completion

RNS Number : 4614U

Filtrona plc

21 December 2011

 



21 December 2011

FILTRONA PLC

("Filtrona" or "the Company")

A leading international supplier of speciality plastic and fibre products

ACQUISITION COMPLETION: RICHCO, INC.

Further to the announcement on 18^th November 2011, Filtrona plc is pleased to confirm the completion of the acquisition of 100% of the share capital of Richco, Inc. ("Richco") with effect from today. 

The acquisition of Richco is consistent with Filtrona's Vision 2015 strategy of complementing balanced organic growth with value-adding acquisitions, and will be reported under the Company's Protection & Finishing Products ("PFP") division.  Not only does Richco expand PFP's product range in plastic fastening and cable management products, but also it gives broader access to new, attractive growth end markets such as consumer electronics.  In addition, Richco consolidates PFP's position in existing geographies, as well as gives access to certain new markets in which the division is not currently present in both Europe and Asia.

Enquiries:

Filtrona plc	FTI Consulting
Colin Day: Chief Executive Joanna Speed: Corporate Affairs Director Tel: [phone]	Richard Mountain Nina Delangle Tel: [phone]

Notes to Editors:

About Filtrona plc

Filtrona plc is a leading international supplier of speciality plastic and fibre products. Further information can be found on the website www.filtrona.com.

Protection & Finishing Products

A global market leading provider of product protection and finishing products, manufacturing and distributing plastic injection moulded, dip moulded, adhesive-coated foam and metal products. The division has 42 operating units in 14 countries serving a very broad industrial base of over 115,000 customers with a rapid supply of primarily plastic products for protection and finishing applications in industries such as hydraulics, pneumatics, oil and gas, electrical controls, point of purchase and tubular metal products.

Porous Technologies

The leading global technology developer and manufacturer of custom bonded fibre and hydrophilic foam components. Its components handle fluid and vapour and deliver high value and precision performance to many of the most well-known healthcare, consumer and industrial brand owners in the world. These components are used in a wide range of product applications including medical diagnostics and wound care, inkjet printer cartridges, writing instruments and air fresheners.

Coated & Security Products

The global market leading producer of high quality self-adhesive tear tape and a growing supplier of labels, products and technologies for brand protection, document authentication and personal identification. Customers in over 100 countries are served from facilities operating in seven countries. The division also includes plastic profile extrusion activities in The Netherlands.

Filter Products

The division is the only global independent cigarette filter supplier. The 9 worldwide locations, including a UK-based research facility and three regional development centres provide a flexible infrastructure strategically positioned to serve the tobacco industry. The division supplies a wide range of value adding high quality innovative filters from monoacetate to multi-segment speciality filters with sophisticated adsorbent materials.

About Richco, Inc.

Richco was founded in 1954, and is a privately-owned company based in Chicago, Illinois.  It has global operations, with four manufacturing sites and nine other distribution sites in the U.S., Europe and Asia.  Richco offers both custom-designed parts and 15,000 standard parts across 12 product categories, including cable management, circuit board hardware and cable ties / accessories. 

 

END

 

 

ACQLLFVDFDLLFIL