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NILIT acquires FRISETTA Polymer

21
Jun '07
NILIT, with a dominant position in the global market for the production of nylon 6.6 polyamide fibers and polymers, signed an agreement with the Rueb family to acquire FRISETTA Polymer in Utzenfeld and its subsidiary Recom, in Wehr - both in Germany.

“This acquisition is a clear demonstration of our commitment to the engineering plastics industry. The combination of NILIT's EURONIL operations in Italy, already a leader in specialty plastics, and FRISETTA Polymer, a leader in Germany, will create a new and enhanced player in high performance polymers."

"The combined company will help all our customers better meet the growing demands of an increasingly sophisticated market globally” said Arie Gottlieb, General Manager of Nilit.

Gerd Rueb added, “Our family is very happy that we have a partner for FRISETTA Polymer who will provide a strong basis for further growth and stability for the Company. NILIT is committed to making this transaction a success, and we feel comfortable that this merger will be the right step for the future of FRISETTA and will assure its continued growth and success.”

NILIT also operates a fully integrated polymerization facility in Israel and produces a broad range of specialty nylon polymers for extrusion, injection molding and compounding under the trademark Polynil.

Yossi Shapira, Director of the Plastics Division of Nilit added, “NILIT is also adding a compounding facility in China, located in Suzhou, near Shanghai. This combination will enable NILIT to expand its presence in the engineering thermoplastics market and offer high performance polymers and compounds globally.”

Arie Gottlieb added that “NILIT prides itself on its commitment to its employees and its customers and has started regular contact with both groups to smooth the integration of FRISETTA Polymer with NILIT and with EURONIL in particular.”

The deal is expected to be completed by the end of June. The details of the deal will remain confidential as both companies are private.

Nilit Ltd


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