ELAFLEX acquires a majority stake in ditec group
We are pleased to announce that ELAFLEX HIBY group, headquartered in Hamburg, has acquired a majority stake in the German supplier and manufacturer ditec. The ditec group, based in Kitzingen, produces rubber and fabric expansion joints.
Founded in 1973, ditec manufactures expansion joints for a wide variety of markets, industries and requirements. The ditec group has established a position as a worldwide leading developer and producer of rubber and fabric expansion joints, with a focus on customer requirements. ditec expansion joints are globally used for numerous applications such as: power plant technology, industry and plant engineering, water treatment technology, chemical-, paper- and pulp industry, food industry, and ship building industry. ditec has added highly innovative expansion joints for hydrogen application to their product portfolio, thus proving their future-oriented product strategy.
Shaping the future together
Stefan Kunter, CEO of ELAFLEX HIBY group, said: 'For us, as an internationally active system supplier of expansion joints, hoses, hose assemblies, couplings and nozzles, the cooperation with such a high-performing company creates an excellent extension of our product concepts.'
Christoph Adam, managing partner, added: 'We look forward to the cooperation. ditec and ELAFLEX have maintained a longstanding business relationship, both being family companies with a long history. The ditec team will continue to support their customers and partners in the future by providing quality innovation and perfect service.'
The ditec group will retain its operational independence and distribution channels in the new constellation.
Download: Press release