Aalberts Industries strengthens French Industrial Services activities
Aalberts Industries N.V., which operates in the fields of Industrial Services and Flow Control, has agreed to acquire 100% of the shares of Cotterlaz Components S.A. in France, an international group specialised in precision metal stamping and plastic insert moulding of complex metal components. The acquired business is an extension of the Industrial Services activities in France and Eastern Europe.
Cotterlaz is leading in the design and manufacture of custom-made connectors and antennas, serving a wide range of tailored applications for the automotive, electrical engineering and telecom industries. By combining complementary processes as metal stamping with plastic insert moulding, Cotterlaz provides its customers with a broad portfolio of complete finished parts. For the year 2007 Cotterlaz generated revenue of EUR 16 million with circa 200 employees across its locations in France, Slovakia and the Far East.
The acquisition of Cotterlaz fits well within the strategy of Industrial Services as it provides the expertise of plastic insert moulding of complex metal components, a technology complementary to the existing stamping business. By combining these two processes, Industrial Services is now able to provide a number of its markets with more complete finished parts. In addition the operations in Slovakia and the Far East provide Industrial Services the ability to distinguish itself by accompanying its customers internationally to supply them locally.
The acquisition will be consolidated as of 1 January 2008 and will directly contribute to the growth of the profit per share. The acquisition will be financed from own resources.
More information on Cotterlaz can be found at: www.cotterlaz.com