Apr 1, 2014

Press Release

SIMONA to acquire Boltaron

 

Hazleton, PA - 01 April 2014 - 
SIMONA AG, through a wholly owned subsidiary, has entered into an agreement to purchase Boltaron Performance Products, LLC, Newcomerstown, OH, USA, it was announced by Wolfgang Moyses, CEO of SIMONA AG. Boltaron will become part of the SIMONA AMERICA GROUP, which will consist 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 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 multilayer composites having unique properties.

Lawrence Schorr, CEO and principal owner of Boltaron, will 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 Boltaron'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.


Boltaron-facility.jpgBOLTARON LLC facility
in Newcomerstown, OH, USA

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SIMONA AG
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Mr. Eric Schönel

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