Datwyler completes Parco acquisition in the Sealing Solutions division.
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用谷歌翻译Ad hoc announcement pursuant to Art. 53 LR SIX Swiss Exchange | 8. October 2018
On 5 October 2018, Datwyler Group completed the acquisition of Parco Inc., previously announced on 3 September and, as a result, now owns the US company based in Ontario, California.
With its acquisition of Parco, Datwyler is opening up access to several strategically attractive new industries for the Sealing Solutions division, particularly oil and gas, as well as aerospace, water filtration, farm, construction and fuel-dispensing. At the same time, Datwyler is significantly expand-ing its existing O-ring business, which it acquired in its 2015 takeover of Origom.
Targeted cross-selling of existing Datwyler products to Parco’s current customers and vice versa will enable both companies’ profitable growth to be accelerated. Datwyler is also strengthening its presence in the USA, a key market. With some 275 staff Parco generates annual revenue of some CHF 60 million and is on a profitable growth path.