ACG acquires German facility

In its first acquisition since divesting its supply chain business to focus on its higher growth advanced composites business, the Advanced Composites Group’s (ACG) parent company Umeco has purchased the assets of Fenotec Ges.i.L from the administrator for a cash sum of €2.2 million. ACG will be trading through these new facilities as ACG (Umeco Composites GmbH). The assets, located in Beelitz, comprise freehold buildings and high quality production equipment which will be used to manufacture Umeco’s range of prepreg advanced composite materials. Fenotec was placed into administration in December 2010 shortly after investing €5 million in new buildings and machinery in a failed attempt to enter the prepreg market. Andrew Moss, Umeco’s chief executive said: “The acquisition of Fenotec’s assets provides an excellent opportunity for Umeco to get closer to our customers in continental Europe and to expand our manufacturing capacity at a time when the composites industry is enjoying significant growth. The equipment we are purchasing is virtually brand new, of a very high quality and alleviates the immediate need to expand capacity at our existing facility in Manchester.” www.acg.co.uk