Business
Acquisition of Porextherm D?mmstoffe GmbH
Acquisition of Porextherm D?mmstoffe GmbH.
About this update from Morgan Advanced Materials Plc
[{"type":"text","content":"\n \nRNS Number : 2882M Morgan Advanced Materials PLC 15 July 2014 \n \n\n \n15th July 2014\n \nAcquisition creates major global force in industrial insulation\n \nMorgan Advanced Materials plc (LSE: MGAM) has announced the completion of its acquisition of Germany-based Porextherm Dämmstoffe GmbH (Porextherm), further strengthening its world-leading presence in global high temperature insulation products.\n \nPorextherm was established in 1989 and since then has developed a wide range of WDS® high-temperature insulation and Vacuum Insulation Panel (VIP) products, establishing it as a technical leader in the production of microporous insulation materials. The company will become part of Morgan's Thermal Ceramics business and the Porextherm brand name will be retained.\n \nThe acquisition further strengthens Morgan's position as a global leader in microporous insulation. Porextherm's facility in Kempten, Germany, will complement Morgan's existing manufacturing operations at Elkhart in the USA and Daegu in South Korea and will enable the Group to fulfil growing demand in markets such as automotive and petrochemicals. Specifically, it allows Morgan to leverage Porextherm's distinctive competences and expertise in three key areas - speciality encapsulation technology, speciality near-net-shape technology, and best-in-class industrial insulation technology - enhancing the Group's offering in thermal insulation solutions for demanding applications across a broad spectrum of industry sectors.\n \nAs part of the wider Morgan organisation, Porextherm will benefit from access to global sales, marketing, research & development, engineering and manufacturing facilities and knowledge, providing an ability to enter and establish itself in a number of new markets.\n \nMark Robertshaw, CEO of Morgan Advanced Materials, said: \"The synergies between the two organisations are clear enabling both Morgan and Porextherm to expand their offerings substantially to both new and existing customers. In particular we have already identified exciting new opportunities in a range of markets including commercial fire protection, aerospace and automotive- demonstrating clearly the versatility and capabilities of the WDS® and Vacupor product ranges.\"\n \nPeter Stubner, Managing Director of Porexther...