Mannheim (Germany), January 26, 2007 – The Röchling Group has acquired the U.S. Glastic Corporation from Cignet, LLC.Glastic Corporation, headquartered in Cleveland, Ohio, is a leading manufacturer of sophisticated fiber-reinforced materials for electrical and industrial uses. It supplies OEMs and dealers all over the world. Its brands include such well-known names as GlasthermTM or GoldmemberTM and a large number of special products for the electrical and electronics industry. Its 160 employees achieved around EUR 30 million in sales last year.
“With this acquisition we are proceeding as announced with the further extension of our international plastics activities,” said Röchling Group CEO Georg Duffner. “We will integrate the Glastic Corporation into our Röchling Engineering Plastics Group, which already holds a leading world market position as a manufacturer of semi-finished products in thermoplastic and composite materials.
“We will incorporate the Glastic Corporation into our Composites Division and anticipate fruitful cooperation in future developments of new products and application areas,” said Ludger Bartels, chairman of the Management Board of Röchling Engineering Plastics KG, Haren, Germany.
The Röchling Group is a worldwide operating plastics group based in Mannheim, Germany. With 5,400 employees at 54 locations in 17 countries, Röchling is today one of the leading international plastics processing enterprises. With its High-Performance Plastics and Automotive Plastics divisions, the Group’s sales total over EUR 1 billion in Europe, America and Asia.