01. Nov 2024
Turkish automotive supplier takes over Hungarian Philippine plant
Acquisition of the Hungarian factory (Philippine Kft) of insolvent Philippine GmbH & Co Technische Kunststoffe KG
Turkish automotive supplier Pimsa Otomotiv (Çayirova/Turkey) is looking to expand its presence in Eastern Europe by taking over the Hungarian plant of insolvent automotive supplier Philippine GmbH & Co Technische Kunststoffe, Lahnstein (Germany). The transaction was signed between the insolvency administrator Jens Lieser (Koblenz, Germany) and Pimsa Otomotiv on 21 October 2024. The purchase price was not disclosed; the acquisition is expected to close at the end of November 2024. The Philippine plant in Oroszlány, Hungary, primarily processed polyurethane foams for acoustic, energy absorption and comfort applications for the automotive industry.
The Turkish automotive supplier also offers a similar product range. Pimsa produces a wide range of polyurethane and composite solutions for the automotive industry at its headquarters in the Turkish province of Kocaeli and at two production sites in the UK in Nuneaton and Chesterfield. These include NVH foam parts for acoustic and comfort purposes, such as foam padding for armrests, encapsulation foams for EV motors and powertrains, elastomers, RIM components, sun visors and composite PU honeycomb parts.