Nordic Business Report-October 23, 2006-Swedish polymer components developer Nolato AB expands within medical devices, acquires Medical Rubber AB
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Swedish high-tech polymer components developer and manufacturer Nolato AB said on Monday (23 October) that it has agreed to acquire Medical Rubber AB in a SEK160m deal.
Medical Rubber, based in Horby, Sweden, manufactures precision components in silicone rubber and thermoplastic elastomers for medical devices. It has some 100 employees and is expected to achieve sales of SEK100m in 2006.
"The acquisition enhances Nolato's position as a leading manufacturer of polymer systems components in medical technology and is completely in line with the expansion strategies we have for the Nolato Medical business area," said Georg Brunstam, President and CEO of Nolato.
"It complements Nolato Medical's current operations both technologically and in terms of customers and also creates synergies in the business area," Brunstam added.
Medical Rubber is being sold by its founders, the Persson family.
Nolato Group, headquartered in Torekov, Sweden develops and manufactures polymer components for the telecommunications, automotive products, white goods, medical technology, hygiene and other selected industrial sectors. The company has 4,000 employees in Sweden, China, Hungary, Estonia, Malaysia and Japan. Nolato is listed on the Nordic Exchange in Stockholm.
One British pound (GBP) is worth approximately 13.70 Swedish kronor (SEK).
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