NEWS


Braskem takeover


halted LyondellBasell has ended discussions with Odebre- cht, the controlling shareholder of Brazil’s Braskem, about a poten- tial acquisition of the firm. CEO Bob Patel said that a combination was “com- pelling because of the companies’ complemen- tary strengths, product portfolios and operational footprints. However, after careful consideration, we jointly decided not to pursue the transaction.” He said LyondellBasell


remains committed to its ongoing growth strategy and now intends to speed up its share repurchase programme, but he remains positive about acquisitions. “Our strong cash flows, ample liquidity and healthy balance sheet allow us to deliver a growing, top-quartile dividend, advance organic growth and maintain optionality for M&A opportunities while executing these significant opportunistic share repurchases,” said Patel. � www.lyondellbasell.com


Crestview plans to build global mould group


US-based private equity firm Crestview Partners has acquired Concours Mold in Canada on undisclosed terms. It described the move as “the first step in a strategy to invest $200m of equity to acquire and integrate tooling and mould compa- nies to create a global technological leader with differentiated software simulation, machine


learning and 3D printing capabilities”. Concours is headquar-


tered in Windsor, Ontario and has other operations in Alabama and Mexico. It makes steel moulds and tooling for plastics, mainly for the OEM and Tier 1 automo- tive and consumer markets, and is one of the largest players in the field in North America. This is currently a


very fragmented market and Crestview said that it sees significant opportunities to create a clear leader in North America, and also in Europe and Asia. Jason Luo, Crestview


Investment firm Crestview’s first acquisition is Concours Mold


Senior Advisor and former CEO of Ford Chemicals and Key Safety Systems, will become executive chairman at Concours, while Tony Nardone, who worked with him at both companies, will be CEO. The existing management team of Andy Aiton, Dennis Goggin and Kenny Goggin, both sons of the founder Mark Goggin, will remain in place. Other senior executives will be recruited to expand the firm. � www.concoursmold.com � www.crestview.com


New SHI managers in Germany


Sumitomo (SHI) Demag Plastics Machinery has implemented a new sales management in Germany as of 1 May. The Schwaig- based company said that it is “aligning its business to support the entire medical, precision, automotive and packaging value chains” and that it aims to work closer with customers to map out their future needs. Armin Distler has been promoted from


QCP acquires Stadlbauer


Quantum Capital Partners (QCP) has concluded a purchase agreement for Stadlbauer of Austria, which is best known for the Carrera brand of racetracks but also makes the Carrera RC brand of remote-controlled toys, soap bubble manufacturer Pustefix and doll maker Schildkröt. This deal, which is subject to regulatory approval, follows on from


QCP’s 2018 acquisition of Revell, a maker of plastic model kits and remote-controlled toy models. Together, the four parts of the group will have sales of about €130m per year.


www.injectionworld.com � www.stadlbauer.at June 2019 | INJECTION WORLD 13


being sales manager for the South region to be director. Thomas Dirnberger, formerly in charge of the Stuttgart area, and Stefan Sonnhalter, a newcomer, will be leading the South and North/West regions respectively. The previous sales director for Germany, Sebastian Dombos, is leaving “by mutual agreement” after 15 years with the company. � www.sumitomo-shi-demag.com


PHOTO: CONCOURS MOLD


PHOTO: CARRERA


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