STEINHAUSEN, Switzerland—Rehau Verwaltungszentrale A.G. completed its acquisition of MB Barter & Trading A.G., after approval by antitrust authorities.
Rehau gradually will merge its businesses with MBT until the joint market launch under a new name planned for the first half of 2019, according to a Rehau news release.
Details of the acquisition were not disclosed, but Rehau noted that the new company will combine into a culture with a focus on logistics, trading and distribution of products.
"The successful completion of this transaction is an important milestone in the implementation of our vision to grow as a leading provider of polymer solutions and to further expand our business relationships," Stefan Girschik, CEO of the new company, said in a news release.
The new board of directors consists of Jobst Wagner, current chairman of the board of directors of Rehau, and Thomas Endres, current chairman of the board of MBT. Phillipp Endres will be the deputy CEO and Marco Zahnd will be the new chief financial officer.
Rehau and MBT completed their deal in December, but had announced it three months earlier when they reportedly signed an agreement for a merger of equals to create a polymer group with potential sales of $2.5 billion.
Founded in 1948, Rehau Verwaltungszentrale is the holding company for Rehau Group, a Swiss systems and service provider for polymer-based solutions in the construction, automotive and industrial sectors. It has more than 20,000 employees worldwide.
MBT, established in 1982, is a Swiss provider of polymers, polyethylene terephthalate and rubber, with 30 offices globally.