22 December 2011
Filtrona announces the acquisition completion of Richco Inc
Further to the announcement on 18th November 2011, Filtrona plc is pleased to confirm the completion of the acquisition of 100% of the share capital of Richco, Inc. (“Richco”) with effect from today.
The acquisition of Richco is consistent with Filtrona’s Vision 2015 strategy of complementing balanced organic growth with value-adding acquisitions, and will be reported under the Company’s Protection & Finishing Products (“PFP”) division. Not only does Richco expand PFP’s product range in plastic fastening and cable management products, but also it gives broader access to new, attractive growth end markets such as consumer electronics. In addition, Richco consolidates PFP’s position in existing geographies, as well as gives access to certain new markets in which the division is not currently present in both Europe and Asia.