The agreement was signed Monday, Dec. 31, 2007; specific terms were not disclosed.
The business supplies Isofluor brand products to global industrial and medical customers from two European locations. Saint-Gobain is planning to integrate the IFK business into its Process Systems business unit, which is part of SGPPL's Fluid Systems division. IFK and the Isofluor brand products will be marketed consistent with past practices.
"IFK Isofluor is an excellent fit within SGPPL and we are pleased to welcome them to our company," said Tom Kinisky, President of SGPPL. "IFK has a strong brand identity and complements the products of SGPPL. Dieter Heuser and his son, Holger Heuser, have built a very strong business. We look forward to continuing the tradition which started in 1984 long into the future."
Saint-Gobain Performance Plastics is part of Saint-Gobain, a leading producer of construction products, flat glass, high-performance materials and packaging, and Europe's largest distributor of building materials. Headquartered in Paris, Saint-Gobain had worldwide sales of more than $52 billion in 2006, and has more than 207,000 employees in 56 countries.
Saint-Gobain Finalizes Agreement to Acquire IFK Isofluor GmbH
Saint-Gobain Performance Plastics (SGPPL), headquartered in Aurora, Ohio, has acquired IFK Isofluor GmbH (IFK) of Neuss, Germany, a privately owned manufacturer of fluoropolymer tubing.