polymeroptix: Expansion into medical industry

polymeroptix GmbH - a specialist for ultra-precise injection molding technology - acquires plastics factory in Cornwall UK from West Pharmaceutical Services Cornwall Limited, a subsididary of West Pharmaceutical Services, Inc., announced the company.

With effect of May 4, 2011, the polymeroptix GmbH in Lüdenscheid, Germany, through its British subsidiary polymeroptix UK Ltd in St. Austell, Cornwall, acquired the plastics injection molding factory of West Pharmaceutical Services, Inc., a global provider of innovative systems, device and component solutions for the medical industry. The parties signed a long-term supply contract for West´s Flip-Off® seals.

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The acquisition enables both parties to follow their growth strategies and at the same time utilize the highly skilled team in the UK to advance the plans of polymeroptix to invest in new technologies in order to serve new trends in medical and optical markets.

"This is a deal with a true win/win perspective", says Andreas Kobus, co-founder and shareholder of polymeroptix GmbH as well as a director of polymeroptix UK Ltd. "We want to grow this business, taking advantage of the workforce experience and skills in the medical industry."

The technical skills of the new owners are rooted in the LED, sensors and consumer electronic markets. Polymeroptix UK Ltd.´s plan is to utilize its injection molding techniques to create, in combination with this high-performance site, new solutions for medical customers in packaging, disposable devices and diagnosis optics as well as bulk production of high-performance optical components for consumer markets.

"This acquisition represents a milestone for the strategic restructuring efforts of the Poschmann Group", says Matthias Poschmann, shareholder and co-founder of Polymeroptix as well as major shareholder of Poschmann GmbH, an international injection molding corporation.

Flip-Off® is a registered trademark of West Pharmaceutical Services, Inc. In the United States and other jurisdictions.

polymeroptix GmbH, Lüdenscheid, Germany

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