CCL Industries Acquires INT Autotechnik, Germany
TORONTO, ONTARIO—April 3, 2013—CCL Industries (TSX:CCL.A) (TSX:CCL.B), a world leader in specialty packaging solutions for the consumer products and healthcare industries, announced today that it has acquired INT Autotechnik GmbH ("INT"), a leading producer of stainless steel and aluminum tread plates for German automotive OEMs. INT based in Munich, Germany recorded sales of $22 million and an adjusted EBITDA of approximately $2 million in 2012. The expected final purchase price, subject to customary closing adjustments, is estimated at $14 million in a combination of cash and assumed debt.
"INT represents another interesting acquisition in the rapidly developing Durables sector of CCL Label," said Geoffrey Martin, president and CEO of CCL Industries. "Together with our existing business in Germany, CCL Design, we now supply all the leading automotive customers with decorative and functional products, with a particularly strong share position in luxury cars."
Martin also adds that INT recently secured important new sales contracts, which will expand its revenue base; with additional operational synergies CCL is planning to double the acquired profit stream over the 2013-2015 period.
"We are pleased to welcome Alfred Held, the founder of INT, to CCL where he will play a leading role in the development of our German automotive business," explained Martin. "Over the balance of 2013, we will combine the two operations into a single legal entity retaining manufacturing plants in Solingen and Munich (Germany), which will both trade as CCL Design."
About CCL Industries
With headquarters in Toronto, Canada, CCL Industries currently employs approximately 6,600 people in 75 plants globally located to meet the sourcing needs of large international customers. CCL Label is the world's largest converter of pressure-sensitive and film materials for label applications and sells to leading global customers in the consumer packaging, healthcare, automotive and consumer durable segments. CCL Container and CCL Tube are leading producers of aluminum aerosol cans, bottles and extruded plastic tubes for the consumer products industry in North America.