PHOTO: Rehau-MBT merger – Jobst Wagner (second from right), future chairman of the board of directors of the as yet unnamed new merged company, with fellow board members Philipp Endres, Thomas Endres (both of MBT) and Dr Stefan Girschik, who is to be CEO of the new business
Merged group will create new global player in polymer industry
REHAU GmbH, the procurement arm of the Rehau Group, and the worldwide trading subsidiaries of MB Barter & Trading AG will combine their strengths into a new, yet to be named, Swiss based company with an annual turnover of $2.5-billion.
Both companies are active in South Africa: Rehau, a leading systems and service provider for polymer-based solutions in construction, automotive and industry, has factories in Port Jackson (EC) and Ladysmith (KZN), and offices in Johannesburg, Cape Town, Durban, East London and Uitenhage, focusing on advanced windows, doors and automotive parts.
MB Barter & Trading is the main shareholder of MBT South Africa, one of South Africa’s top polymer raw material importers and distributors, established by Dick Coates in 1996, with offices in Johannesburg, Cape Town and Durban. Dick Coates will retain his shareholding in the new entity.
The announcement on 13 September stated that the merger “ opens up significant opportunities for growth, increases global presence and strengthens the relationship with suppliers and customers”.
“Joining forces allows the new company to respond more quickly to changing market conditions, innovate faster, become more efficient and create higher value for not only the customers, but also for employees and stakeholders alike,” said Dr Stefan Girschik, deputy CEO at Rehau and future CEO of the newly established company.
The transaction is expected to close in the fourth quarter of 2018, subject to customary closing conditions and approval of antitrust authorities.