Oroszlany, Hungary – Turkey’s Pimsa Otomotiv has acquired a Hungarian plant from the bankrupt Philippine Technische Kunststoffe. The purchase price has not been disclosed. The transaction is expected to close at the end of November.
Philippine Hungary supplies foamed PU parts to the automotive industry, primarily for comfort and acoustic applications. It complements Pimsa Otomotiv’s existing portfolio for the automotive market, which includes products such as NVH foams, elastomers, RIM components, sun visors and composite PU honeycomb parts.
Pimsa’s HQ and primary production facilities are in Kocaeli, Turkey. It also has two UK production sites, in Nuneaton and Chesterfield, under then name QCL. The Philippine acquisition will give it production facilities in a third country.
