MAAG Group to Acquire Cloeren Incorporated
The MAAG Group today announced that it has signed a definitive agreement to acquire Cloeren Incorporated (“Cloeren”), based in Orange,(Texas), USA. With this strategic acquisition, the Group is expanding its expertise in plastics processing and strengthening its position as a leading global provider of integrated system solutions for the polymer and plastics industry.
Cloeren designs and manufactures high-performance, custom-designed extrusion slot dies and feedblocks primarily for polymer and plastics applications. The Company is based in Orange, TX, in close proximity to North America’s petrochemical and energy export hub, with additional manufacturing locations in Marshall, Texas/USA; Eau Claire, Wisconsin/USA; and Micheldorf, Austria.
Cloeren is a global leader in the production of extrusion dies, with highly regarded technical capabilities and a blue-chip customer base. The acquisition adds complementary extrusion technologies to MAAG’s portfolio and expands its ability to serve customers with a broader, more complete solution across polymer processing applications.
With Cloeren, MAAG Group is gaining a technologically leading partner whose products, expertise, and track record of innovation perfectly complement our existing portfolio. By combining the expertise of both companies, the MAAG Group is laying the foundation for further sustainable growth and strengthening its development capabilities across the entire plastics processing value chain. Going forward, customers will benefit from an even broader portfolio of solutions, greater process expertise, and an expanded range of technologies for demanding applications.
“Cloeren is a strong strategic fit for MAAG and will further enhance our capabilities in extrusion applications,” said Ueli Thuerig, President of MAAG. “The addition of Cloeren’s technologies and engineering expertise expands our solutions offering and strengthens our ability to support customers with highly engineered, mission-critical equipment.”
“We are very much looking forward to becoming part of the MAAG Group. Both companies share a commitment to combining technological excellence with a consistent focus on the customer. By combining our strengths, we will create additional value for our customers, tap into new market potential, and accelerate the development of innovative solutions,” said Peter Cloeren, President of Cloeren Incorporated.
Cloeren’s existing business operations will continue as usual. Customers and business partners will continue to benefit from the company’s proven products, services, and dedicated staff, as well as from the expanded resources and opportunities available within the MAAG Group.
The transaction is expected to close in the third quarter following satisfactory completion of customary closing conditions. The terms of the transaction were not disclosed.
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