CLEVELAND, June 24, 2019 /PRNewswire/ -- System Seals
Inc., a research-based seal manufacturer, has acquired Plastoseal
Produktions GmbH, an Austrian-based seal manufacturer focused on
highly engineered sealing solutions.
The acquisition enhances System Seals' GlobalOne program – a
comprehensive approach to managing supply chain logistics for seal
customers worldwide. System Seals and Plastoseal are leaders in
advanced seal design with the goal of reducing the total cost of
equipment ownership for OEMs, end users and maintenance-and-repair
markets.
"We are pleased with this transaction because both companies
share very similar value propositions, as well as company
cultures," said System Seals President Arnold von Engelbrechten.
Plastoseal has developed into a market leader in European seal
manufacturing under the leadership of Wolfgang Kerschbaumer, who will continue as the
company's managing director.
"We are delighted to have found a valuable strategic and
globally connected partner in System Seals," he said. "With them,
we can offer our global customers a wider product range and access
to research and development, while bringing a true global player on
board," he said. "System Seals has grown quickly by helping
customers reduce downtime and increase productivity through applied
engineering and advanced technologies. This deal allows us
accelerate that same offering throughout Europe."
The transaction marks the company's second acquisition in three
years, after it acquired Arc Seals of Cleveland and folding that company's
operations into System Seals. The company will continue to seek
strategic acquisitions and partnerships in targeted regions
throughout the world.
About Plastoseal
Plastoseal Production GmbH, located in Leoben Austria is a
manufacturer of seals and plastic components used in industrial
applications. The company was formed in 2005 by Wolfgang Kerschbaumer in his garage. Since then,
the brand has gained recognition in Austria and throughout Europe as a high quality, reliable and
technically advanced supplier. Its products have been used
successfully in many markets, including steel, food, paper
industries and high-tech automotive manufacturing. This includes
both OEM and aftermarket repair applications. Today the company
employs 13 people and operates from an 1100m^2 facility. For more
information visit www.plastoseal.com
About System Seals
System Seals is a research-based, international seal
manufacturer that works in close collaboration with OEMs and
maintenance-and-repair customers. The company's Engineering Center
uses state-of-the-art testing and design tools to identify and
overcome weaknesses in stock seals, while developing new ways to
optimize cylinder performance. The company serves a variety of
industries including metal processing, forging, oil and gas,
mining, mobile hydraulics, cylinder repair and maintenance, wind
power and injection molding. For more information visit
www.systemseals.com and www.systemseals.de
Media Contact:
Joe
Mosbrook
(216) 375-2141
mosbrook@acclaimllc.com
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SOURCE System Seals Inc.