SIRMAX: Acquisition of Italian thermoplastics compounder Nord Color / Targeting sales of EUR 300m by 2018
Nord Color’s headquarters in San Vito al Tagliamento (Photo: Sirmax)
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Italian compounder Sirmax (Cittadella; www.sirmax.com) is continuing to grow its footprint. In a deal the financial details of which were not disclosed, the company recently acquired all shares in thermoplastic compounds producer Nord Color (San Vito al Tagliamento / Italy; www.nord-color.com). The purchase of the latter – which caters to the automotive, E&E, furniture, construction and sports & leisure industries – not only consolidates Sirmax’s growth strategy, it also complements and expands the company’s own PP compounds product range.
Founded in 1981, Nord Color’s 70 employees specialise in the manufacture of thermoplastic compounds for technical applications. The company posted sales of almost EUR 35m in 2015, and has overall production capacity of 12,000 t/y.
New owner Sirmax – which last year set up its first plant in the US (see Plasteurope.com of 21.01.2015) – said it posted revenues of EUR 210m in 2015, a rise of 31%. Output came to 132,000 t – which also worked out to be a year-on-year rise of 20%. The company said that following the start-up of operations at its plant in Anderson, Indiana / USA and the Nord Color purchase, it anticipates 2016 revenues to come to EUR 260m, with output pegged at 175,000 t – putting it firmly on the path to achieving its 2018 target of EUR 300m in sales.
