Swedish polymers group, Hexpol AB has recently announced its acquisition of the American rubber compounding company Robbins Holdings Inc, including Robbins LLC for US$89.2 million on a debt-free basis.
Robbins engages in moulded envelopes and curing tubes for truck, heavy equipment and airplane tyres, and has an estimated annual ROI of US$100 million. It has 240 employees in its three production facilities across the United States.
Georg Brunstam, CEO of the Hexpol Group said, “The acquisition is a very good compliment to Hexpol Compounding and broadens our presence with rubber compounds into end user markets like agriculture, mining, oil and gas. It also brings a global leadership in molded envelopes and curing tubes to the tire industry.”
Robbins will be consolidated from December 2012. (RJA)