Acquisition of RICO Group by Semperit successfully completed
RICO Group is pleased to announce that the acquisition by Semperit has been successfully completed. .After all approvals were obtained, the closing took place on 31 July 2023. RICO Group generated revenue of approximately EUR 90 million in the financial year 2022 and employs more than 500 people in Austria, Switzerland and the USA.
“The acquisition of RICO is another important step in implementing our growth strategy with a focus on global leadership, innovation and technology. Semperit thus achieves technology leadership in liquid silicone and high-end mould production and strengthens its industrial core business. This goes along with servicing high-growth sectors such as health care and industrial household applications. The acquisition is value-enhancing and also increases our presence in the North American market”, says Semperit CEO Karl Haider.
RICO Group’s growth strategy, which includes expanding production at the Austrian site in Thalheim near Wels as well as expansions in the USA and Switzerland, will remain unchanged. According to international studies, the market for silicone products in Western Europe and the USA will grow significantly until 2027. The market volume currently (2023) amounts to around 8 billion US dollars.
The publicly listed company Semperit AG Holding is an internationally oriented group that develops and produces polymer products for the industrial and medical sectors, selling them in over 100 countries around the world: hydraulic and industrial hoses, conveyor belts, escalator handrails, construction profiles, cable car rings, products for railway superstructures, and examination and surgical gloves. Founded in 1824, this long-standing Austrian company has its headquarters in Vienna, Austria. The Semperit Group employs around 6,500 people worldwide in its continuing and discontinued operations, including some 3,100 in Asia and approximately 900 in Austria (Vienna and production site Wimpassing, Lower Austria). The Group has 16 manufacturing facilities worldwide and numerous sales offices in Europe, Asia, Australia, and America. In the 2022 financial year, the Group generated revenue of EUR 779.8 million and an EBITDA of EUR 100.5 million in continuing operations.