Switzerland's Sarna Polymer is buying the US automotive part supplier, Blue Water Plastics, for SFr215 million.
Sarna says the acquisition continues its strategy of sharpening its market focus and increasing its geographical diversification, and also gives it a foothold in the American auto market.
Blue Water Plastics (BWP), which has captured a leading market position as a supplier to North American automakers, is expected to make sales of around SFr310 million in the current year.
To ensure BWP's successful integration into the Sarna Group, the Sarnatech Division's Automotive Business Area is being split off to form part of a new, autonomous Sarnamotive Division.
"The acquisition means the Sarnamotive Division has a presence in the two biggest auto markets in the world," said Sarna Group's chief executive officer, Hanspeter Käser. "And in addition we pick up an important production facility in Mexico."
"The earnings power of BWP is expected to contribute to a sustained increase in the value of the Sarna Group as a whole," added Käser.
BWP designs and manufactures sophisticated automotive components and subsystems based on injection moulding technologies. Its main product lines are plastic sub-assemblies for ventilation and air conditioning systems, interior components, and chassis and functional components.
swissinfo with agencies