Meteor buys Creative Extruded, saving company from closure

BOCKENEM, Germany—Meteor Group has acquired Ohio-based Creative Extruded Products L.L.C., now called Meteor Creative Inc.

The acquisition marks a reversal to Creative Extruded's October decision to close permanently on Dec. 31 after a previously planned sale of the company that fell through.

Creative, which makes plastic and rubber moldings for the automotive glass market, "will add key know-how and technology in thermoplastic products, including PVCs, ABS, polycarbonate, TPR, TPV, TPO and others, to Meteor," a Nov. 30 news release said.

The purchase also will reinforce Meteor's "already strong portfolio of EPDM rubber for both dense and sponge materials."

"The acquisition is an important milestone in our long-term strategy to grow in North America and expand our product portfolio," Meteor CEO Robert Roiger said in the release. "(It) will enable us to serve our renowned U.S. customer base with a broader technology focus.

"We are looking forward to working closely with Creative's highly motivated employees and work force on building this successful new chapter for Meteor Creative," he added.

With 2020 sales of about $180 million, Meteor operates in Germany, the U.S. and Romania.

Some of the group's OEM customers include Daimler, BMW, VW Group, the Stellantis Group and industrial clients such as Schueco.

Meteor was acquired in 2019 by AEQUITA, a Munich-based investment firm.