MAAG Group has signed a definitive agreement to acquire Cloeren Incorporated, based in Orange, Texas, USA. The company said the acquisition will expand its expertise in plastics processing and strengthen its position as a global provider of integrated system solutions for the polymer and plastics industry. Cloeren designs and manufactures high-performance, custom-designed extrusion slot dies and feedblocks primarily for polymer and plastics applications. The company is headquartered in Orange, in close proximity to North America’s petrochemical and energy export hub, and also has manufacturing locations in Marshall, Texas, USA; Eau Claire, Wisconsin, USA; and Micheldorf, Austria. According to MAAG Group, the acquisition adds complementary extrusion technologies to its portfolio and expands its ability to serve customers with a broader solution across polymer processing applications.
Complementary extrusion technologies
Cloeren is described by MAAG Group as a global leader in the production of extrusion dies, with highly regarded technical capabilities and a blue-chip customer base. The transaction is intended to strengthen MAAG Group’s offering in extrusion applications by adding Cloeren’s technologies and engineering expertise.
MAAG Group said that, with Cloeren, it is gaining a technologically leading partner whose products, expertise and track record of innovation complement its existing portfolio. By combining the expertise of both companies, MAAG Group said it is laying the foundation for further sustainable growth and strengthening its development capabilities across the plastics processing value chain.
According to the announcement, customers are expected to benefit from a broader portfolio of solutions, greater process expertise and an expanded range of technologies for demanding applications.
Statements from the companies
"Cloeren is a strong strategic fit for MAAG and will further enhance our capabilities in extrusion applications," said Ueli Thuerig, President of MAAG. "The addition of Cloeren’s technologies and engineering expertise expands our solutions offering and strengthens our ability to support customers with highly engineered, mission-critical equipment."
"We are very much looking forward to becoming part of the MAAG Group. Both companies share a commitment to combining technological excellence with a consistent focus on the customer. By combining our strengths, we will create additional value for our customers, tap into new market potential, and accelerate the development of innovative solutions," said Peter Cloeren, President of Cloeren Incorporated.
Closing expected in the third quarter
Cloeren’s existing business operations will continue as usual. MAAG Group said customers and business partners will continue to benefit from the company’s products, services and staff, as well as from the expanded resources and opportunities available within MAAG Group.
The transaction is expected to close in the third quarter following satisfactory completion of customary closing conditions. The terms of the transaction were not disclosed.
Ueli Thürig, President, MAAG Group