"With the takeover of technology leader Teer Coatings we are expanding our expertise and product portfolio in the highly specialized coating segment," saidPeter Mitterbauer, chairman and CEO of the Miba Group. "This is a key way to foster the innovation and competitiveness of our customers."
In July 2009 Miba acquired a 24.9 percent interest in Teer Coatings Ltd.; now the 100 percent takeover follows.
With approximately 50 employees, the site in Droitwich, UK, specializes in the development and production of friction-minimizing, wear-resistant coatings. Along with small batch and special production, the site focuses on systems engineering as well as research and development. The most recent annual sales figure is approximately 4 million British pounds.
With sites in Vorchdorf, Niklasdorf and now Droitwich, UK, Miba Coating Group specializes in polymer coatings, electroplated overlays and PVD coatings. "We are an active development partner to the international automotive industry," saidTherese Mitterbauer, managing partner of High Tech Coatings in Vorchdorf. "Through the know-how of Teer Coatings we are able to provide our customers with even more comprehensive solutions in the area of friction and scuffing reduction, service life extension, and reduction of parts costs."