Language
Semperit Gains LSR, Moldmaking Expertise with Rico Acquisition

News

HomeHome / News / Semperit Gains LSR, Moldmaking Expertise with Rico Acquisition
search
RECENT NEWS

Aug 16, 2023

Passengers miss flights over faulty conveyor belt at Lagos airport

Aug 14, 2023

Your Next Chick

Aug 06, 2023

Buy Hydraulic Fittings Online From Authorized Dealer

Aug 04, 2023

Transcript : Gates Industrial Corporation plc, Q2 2023 Earnings Call, Aug 04, 2023

Aug 08, 2023

Hydraulic Rubber Hose Market 2031 Growth Drivers along with Top Brands Koman Hydraulic, Eaton Corporation (Synflex), Kurt Manufacturing, Parker Hannifin, Transfer Oil S.p.A., Piranha Hose Products, Manuli Rubber Industries, HIC International, Gates, RYCO Hydraulics, and Polyhouse India – University City Review

SEND YOUR INQUIRY
SUBMIT

Jul 15, 2023

Semperit Gains LSR, Moldmaking Expertise with Rico Acquisition

Posted by Staff | Aug 01, 2023 Semperit announced today that it has successfully completed the acquisition of the Rico Group, a global supplier of liquid silicone tooling and products. Semperit

Posted by Staff | Aug 01, 2023

Semperit announced today that it has successfully completed the acquisition of the Rico Group, a global supplier of liquid silicone tooling and products. Semperit develops and manufactures plastic products for industrial and medical applications. Both companies are based in Austria.

The deal closed following all final approvals on July 31. Rico generated approximately €90 million in revenue in fiscal year 2022 and employs more than 500 people in Austria, Switzerland, and the United States, reported Semperit.

“The acquisition of Rico is another important step in implementing our growth strategy with a focus on global leadership, innovation, and technology,” said Semperit CEO Karl Haider. “Semperit thus achieves technology leadership in liquid silicone and high-end mold production and strengthens its industrial core business. This goes along with servicing high-growth sectors such as healthcare and industrial household applications. The acquisition is value-enhancing and also increases our presence in the North American market,” added Haider.

Semperit manufactures plastic products such as industrial hoses, conveyer belts, escalator handrails, and surgical gloves globally. It operates 16 manufacturing facilities worldwide and employs approximately 6,500 people.

Rico’s growth strategy, which includes expanding production at its Austrian site in Thalheim as well as expansions in the United States and Switzerland, will remain unchanged, said Semperit.

According to international studies, the US and Western European markets for silicone products will grow by around 7% annually through 2027. The market is currently valued at around $8 billion.

More information about text formats

Environmental concerns about plastics are valid, but politicians and corporations often cow to activists without considering that they can be a sustainable choice in many applications.We're tracking the industry's fight to ensure common sense prevails.