The Continental Group division, ContiTech, has signed an agreement for the acquisition of 100% of the share capital of Merlett Tecnoplastic SpA, a company based in Daverio (Varese), specialized in the production of flexible plastic pipes for the technical sectors and industrial, agricultural, nautical, construction, transport and food industries.
Merlett, founded in the 1950s by the Tamborini family, has experienced solid growth in recent years, exceeding the 80 million euro turnover at consolidated level in 2018.
Today Merlett, recognized as one of the leading European manufacturers of plastic flexible hoses with a particular focus on PVC pipes, generates over 70% of its turnover on foreign markets and boasts a solid and diversified customer base.
Merlett has two production plants in Northern Italy (Daverio and Varano Borghi) and one in Rancate (Switzerland) as well as being able to count on a solid and extensive distribution network consisting of twelve affiliated companies throughout Europe, employing a total of almost 500 employees.
The operation allows Continental to expand its business in relation to the business of industrial tubes in Europe, with particular reference to the solutions and performances obtained through the use of plastic materials.
The closing of the transaction will be subject to the usual conditions for this type of transaction and to obtaining the authorizations from the competent authorities.