Icon Polymer Acquires Silvertown UK

Resource from: CBCC Likes:2959

Apr 26,2005

Icon Polymer Acquires Silvertown UK Icon Polymer Group (UK) has acquired Silvertown UK (UK), combining the two competing rubber and polymer product manufacturers and marking its fourth acquisition in as many years. Silvertown manufactures rubber and polymer bearings and anti-vibration systems for public roads, large buildings, rail, aerospace and shipping applications. Icon is a major manufacturer of premium rubber components, supplying a range of specialized and general technical industries in the UK and worldwide. Icon focuses its market efforts on the aerospace, defense, specialty automotive and pharmaceutical industries. For example, it was recently selected by NSK Steering Systems to supply steering coupling components which incorporate a spherical roller bearing. Icon employs over 350 people at its facilities in Retford, North Nottinghamshire. Silvertown employs just over 250 people at its facility in Burton upon Trent, Staffordshire. No announcement was made regarding the possible relocation of Silvertown, although Silvertown had already committed to sell its current facility in preparation for a move to a larger one once home to Ravensbourn Plastics. Chief Executive of Icon, Richard Gogerty, said, "Silvertown is an excellent fit for Icon. Both companies work in the same core market sectors, and although we are both specialist rubber solution providers, our operations are highly complimentary. Silvertown has some amazing capabilities driven by its technology base and the knowledge and skills of its people. This acquisition will initially raise combined sales to

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