In what was described as a “strategic move” to expand capacity and enter the medical device molding market in the U.S., Balda AG purchased 100% of the shares of C. Brewer Company located in Anaheim, CA, and HK Plastics Engineering Inc. in nearby Oceanside, CA, for US $50 million and US $15 million respectively. The deals were finalized Dec. 31, 2012. These acquisitions are part of Balda’s buy-and-build strategy for its Medical Group as the company extends its reach in the “strategically important” U.S. market.
Dr. Rolf Eilers, CEO of Balda Medical Group, told PlasticsToday, in a meeting at the MD&M show in Anaheim, that the company has “a lot of liquidity and is nearly debt free.” The company’s new strategy, which it rolled out last year, was to invest in the U.S., which is “a most important market,” said Eilers.
Balda AG currently has molding operations in Europe, Asia, and now the U.S. Last May, according to a report in Bloomberg, Balda AG began looking for acquisitions for its medical unit. The company hired an adviser to help it with the process.