General
HEXPOL acquires Spain-based wire & cable compounder
The acquisition of VICOM is funded by a combination of cash at hand and existing bank facilities
- By ICN Bureau
| March 02, 2021
HEXPOL has today acquired 100% of VICOM 2002 S.L., a Spanish Polymer Compounder active in the interesting and growing product segment "wire and cable". VICOM's turnover 2020 amounted to some 30 MEUR, is profitable and employs some 30 people in its production facility in Barcelona.
"Through the acquisition of VICOM, we strengthen our position in Southern Europe in a segment favored by the global electrification trend. The company has high competence and capacity and fits well into our current business structure", comments Ralph Wolkener and Carsten Rüter, Presidents HEXPOL Compounding Europe/Asia.
The acquisition is expected to bring a lower positive profit contribution. We will immediately start the integration of VICOM into our current structure.
"This is another step in expanding and strengthening the HEXPOL group through an acquisition within our core Polymer Compounding business. VICOM will, through its competence and capacity, fit very well into the HEXPOL group and strengthen our position on a growing market", comments Georg Brunstam, President and CEO.
The acquisition is funded by a combination of cash at hand and existing bank facilities. VICOM will be consolidated by HEXPOL from 1 March 2021.
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