ELASTO Part of HEXPOL, One Year On...
Twelve months ago the then TPE division of Vita group was acquired by Hexpol, a world-leading polymers group with strong positions in advanced polymer compounding, gaskets for plate heat exchanger and wheels made of plastics and rubber materials whose head office is in Malmo Sweden. TPE was new to Hexpol and the acquisition consisted of two manufacturing sites Manchester UK based Vita Thermoplastic Polymers and Elastoteknik, based in Amal Sweden. Now renamed ELASTO, the business continues to operate from both its Amal and Manchester facilities.
For Hexpol, a global rubber compounder with twenty six manufacturing facilities in nine countries, TPE represented a logical ‘next step’ in its expansion plan. TPE or Thermoplastic Elastomer is a polymer with the soft touch; handle ability and malleability of rubber but with all the processing and environmental advantages of plastic. TPE is a product that is continually finding new applications and this fits well with Elasto’s business philosophy which is: ‘Solving our customer’s problems’.
For Elasto, as well as a new brand and identity, it has become a spearhead business within the Hexpol group. The company has over the last year vigorously promoted its two major branded ranges, Dryflex and Mediprene, based on SBS, SEBS, TPO and TPV technologies. The company has also expanded both geographically and by increasing its penetration, with ever widening applications in the household, medical, automotive, construction, industrial and caps and closures markets.
Elasto managing director Per G. Hellberg said. “Our first year as part of Hexpol has been a very exciting and busy time in our evolution. We reported increased sales last year and expect sales to continue at record levels for the foreseeable future. Elasto’s product is an excellent strategic fit with the group’s traditional offerings and this, together with the financial resources available to us, will mean expansion; both organic and by acquisition.” He continued. “It’s no secret that Hexpol is aggressively pursuing the acquisition trail nor that TPE is a polymer itself poised for real growth. Our job over the next five years is to maximize those two opportunities”
South America, India and China are among Elasto’s latest markets. As well as developing a technical and commercial presence, appearances at exhibitions and trade events are planned, including a stand at Chinaplas in Guangzhou May 17th-20th. Elasto will however continue to support its strong European market and will, during the coming year, be exhibiting products and ideas at most trade shows in the European Union.
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