Biesterfeld acquires Milar
The Biesterfeld Group enlarges its specialty chemical activities by acquiring the majority of the company Milar, Milanowek, Poland. The company Milar is active in Poland and other Eastern European markets with adhesives, composites, tooling materials and electrical insulation materials. Biesterfeld Spezialchemie, the specialty chemicals division within the Biesterfeld Group, thus strengthens its activities in Eastern Europe.
In pursuance of its long term strategy, Biesterfeld Spezialchemie GmbH acquired 85% of the shares of the Polish company Milar Sp. z o. o., Milanowek., effective October 1st, 2008. The previously family owned company represents an excellent addition to the existing specialty chemicals activities in Poland with its supplementary product portfolio.
The managing partner Grzegorz Axentowicz will continue to hold a participation and manage the company as President and Managing Director. Milar generates sales of around ? 8 million with 20 employees and represents reputable manufacturers such as Huntsman, Dow Automotive, Dymax, Permabond, Airtech, Saertex, Hexcel and others.
This acquisition will substantially strengthen the presence of Biesterfeld Spezialchemie in the area of performance products and set new accents in such market segments as power & electronics, tooling materials, composites and equipment. It will underpin Biesterfeld's profile in Poland as well as in Ukraine, in the Baltic States and in Belarus, where Milar is active as well.
Milar`s current product portfolio will gradually be extended throughout Europe through the existing Biesterfeld Spezialchemie organisation. Biesterfeld Spezialchemie GmbH, a 100% subsidiary of Biesterfeld AG, distributes specialty chemicals throughout Europe to the pharmaceuticals, cosmetics, and household chemicals industries as well as to the coatings, adhesives, sealants, and elastomers industries, and to the food industry.
Performance products are sold to the construction, rubber, lubrication, electronics, and the automotive industries. In Poland Biesterfeld is already represented since 1997 with two subsidiaries. Including this current acquisition Biesterfeld records sales of more than ? 30 million with 50 employees in this country.
Biesterfeld AG is the strategic holding of the Biesterfeld Group with a 100 years' tradition in the chemicals business. Today the Biesterfeld Group is a leading enterprise in the world of polymer and specialty chemicals distribution as well as the chemicals trade, generating sales of approx. ? 900 million this year with more than 550 employees in more than 50 local organisations in Germany, Europe, in the Americas as well as Asia.
The strategic objectives of the family owned Biesterfeld Group are a steady development and profitable growth around the three core business segments Biesterfeld Plastic, Biesterfeld Spezialchemie and Biesterfeld International.