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Würth Group Acquires Chemofast
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2013-04-29
Würth Group has acquired chemical company Chemofast Anchoring GmbH, based in the German town of Willich, subject to there being no regulatory objections. Chemofast Anchoring GmbH has around 60 employees and generated sales of 30 million euros in 2011. "By acquiring Chemofast we are expanding in the growth market of chemicals while also strengthening our core competence of fastening," Peter Zürn, deputy chairman of the central managing board of the Würth Group and head of Würth's chemical unit, commented. In June 2012, the Würth Group had already acquired the chemical companies Dinol and Diffutherm. Würth takes over the entire management and all employees of Chemofast. "This is a professional management team with excellent market knowledge, allowing us to quickly attain our growth targets," said Peter Zürn.
Ralf Jungermann and Roger Wintzen, managing directors of Chemofast, are delighted that the company will now form part of the Würth Group. "We have a high export share and many multinational customers. Hence, our international approach is perfectly suited for Würth."
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news provided by Fastener + Fixing Magazine (www.fastenerandfixing.com)
2013-04-29
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