SIMONA AG Acquires BOLTARON
KIRN, DE, 16 APRIL 2014 SIMONA AG, through a wholly owned subsidiary, has purchased BOLTARON PERFORMANCE PRODUCTS, LLC (Newcomerstown, OH, USA), it was announced by Wolfgang Moyses, CEO of SIMONA AG. BOLTARON has become part of the SIMONA AMERICA GROUP, which now consists of BOLTARON, Inc (Newcomerstown, OH), LAMINATIONS, Inc (Archbald, PA) and SIMONA AMERICA, Inc (Hazleton, PA).
BOLTARON is a leading North American producer of high-value thermoplastic sheet products for thermoforming and fabricating of high-performance components for aircraft interiors, mass transit vehicle interiors, building products and a broad range of commercial applications.
"We have pursued this acquisition vigorously over several years due to the strategic fit of BOLTARON with both SIMONA AMERICA and LAMINATIONS," explains Moyses, adding, "Each of these companies commands a significant share of a different market, but collectively they span the entire market with high-volume commodity grades up to ultra-high-performance aerospace grades. We have been impressed with the brand recognition, market penetration, operational excellence and profitability of BOLTARON and we believe when combined with SIMONA, BOLTARON can achieve even greater results."
With BOLTARON, SIMONA also gains the only manufacturing facility in North America with extrusion, calendering and press laminating under one roof, allowing the production of specialized film and sheet products in an unprecedented thicknesses range from .076 to 76.0 mm, as well as multi-layer composites having unique properties.
Lawrence Schorr, CEO and principal owner of BOLTARON, has become CEO of the SIMONA AMERICA GROUP. Schorr, after managing the business from 1995 to 2004 for Empire Plastics, Inc, purchased the operations, together with Dean Li, PhD, who has directed day-to-day operations since 2004. Dr. Li will continue as President of BOLTARON, and Michael Lynch will continue as President of SIMONA AMERICA, Inc and LAMINATIONS, Inc.
"Not a merger of competitors or a consolidation of personnel, this acquisition is an aggressive expansion in all respects," says Schorr, "with SIMONA gaining diversified capabilities, a major position in high-value engineering plastics, and a sales network with proven success in marketing of high-value sheet to engineering specifiers of aerospace and other high-value components. At the same time, BOLTARON gains SIMONA's growth-minded leadership, international distribution network and extensive technical resources for the development of aerospace sheet products and other proprietary alloys.
"SIMONA's relationship with BOLTARON began in 2011 when exploring a joint venture in China, and evolved into today's acquisition due not only to its complementary products and markets, but to BOLATRON's leadership team that will remain an integral asset to the organization going forward," says Moyses.
Both Moyses and Schorr confirmed that there are no plans to make any changes in personnel at BOLTARON, and that their goal is to aggressively grow the market penetration of all of the SIMONA AMERICA companies through the sharing of best practices and leveraging of sales and technical capabilities.
About SIMONA AG
SIMONA AG, Kirn, Rhineland-Palatinate (Germany) was established in 1857 as a leather processing business which flourished until the World Wars. Subsequent devastation of the leather trade prompted the company's entrée into the emerging plastics industry. In 1988 the company became publically traded, and has since established subsidiaries in the UK, the Czech Republic, Hong Kong, Poland, Spain, China, Russia and the US. Today, 1,200 employees manufacture 35,000 products with annual production exceeding 100,000 tonnes. For information visit SIMONA.de
About BOLTARON Inc
The Newcomerstown, Ohio (USA) facility of BOLTARON Inc was founded as the Plastics Division of Sieberling Rubber Company in 1954. It became Seilon Inc. in 1964 and was subsequently purchased by The General Tire & Rubber Co. (GTR) in 1968. Through a corporate reorganization in the late 1980s, GTR was transformed into Gen Corp, and this facility became an operating unit. Gen Corp retained ownership until purchased by Empire Plastics, Inc. in 1995. In 2004, Boltaron, a management-owned company, acquired the Newcomerstown operations from Empire.