Utrecht, 1 May 2019
Aalberts N.V. has reached an agreement to acquire 100% of the shares of Precision Plating Company, Inc (PPC) based in Chicago, USA, generating an annual revenue of approximately USD 36 million with 150 FTE.
Founded in 1904, PPC is active in the field of reel-to-reel plating and barrel & rack plating processes with a strong focus on R&D, customised engineering and innovation.
The company develops and builds its own machinery to continuously improve the efficiency of the plating processes. The customers of PPC are active in general industries, aerospace and automotive end markets.
PPC's reel-to-reel surface treatment technology is similar to the technology of PEM in France, acquired in 2018. They will work closely together to exchange technology, processes and machine know-how, to further improve their performance and to service global key accounts in Europe and North America.
The existing experienced management team of PPC, Gary Belmonti and Robert Zitella, will drive the expansion plan to grow the business in the coming years, utilising the footprint, investment power and knowledge of Aalberts.
The results of PPC will be consolidated as of 1 May 2019. The acquisition will directly contribute to the earnings per share and will be financed from existing credit facilities.
Please visit www.ppc1904.comfor additional information.
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Attachment
- press release in pdf (https://ml-eu.globenewswire.com/Resource/Download/30a30bdd-a9b3-4067-bcad-d20151ca5288)
