Würth Group acquires German chemical anchors manufacturer
Künzelsau. On 30 November 2012, the Würth Group signed the sales contract for the chemical company Chemofast Anchoring GmbH based in the German town of Willich. The Würth Group acquires the company with the proviso that cartel authorities will not object to the deal. Chemofast Anchoring GmbH has around 60 employees on its payroll and generated sales of EUR 30 million in 2011.
For Peter Zürn, Deputy Chairman of the Central Managing Board of the Würth Group and head of Würth's chemical unit, this acquisition is in line with the strategic orientation of the corporate group and rounds off the activities in the anchors sector. "By acquiring Chemofast, we are expanding in the growth market of chemicals while also strengthening our core competence of fastening," Peter Zürn commented on the background of the acquisition. In June, the Würth Group had already acquired the chemical companies Dinol and Diffutherm.
Würth takes over the entire management and all employees of Chemofast. "This is a professional management team with excellent market knowledge, allowing us to quickly attain our growth targets," said Peter Zürn. Chemofast and Würth can look back on long years of business relations; both companies stand for excellent product quality.
Ralf Jungermann and Roger Wintzen, managing directors of Chemofast, are delighted that the company will now form part of the Würth Group. "We have a high export share and many multinational customers. Hence, our international approach is perfectly suited for Würth."
Chemofast develops and produces chemical mortars, so-called chemical anchors, successfully selling these to private-label customers in the construction industry and to trading companies.