Glen Dimplex buys electric heating firm in Germany
Glen Dimplex has acquired the German portable electric heating business EWT Elektrogerate, making it the largest player in that sector in Germany.
EWT, which manufactures and distributes an extensive range of portable electric heaters and electric barbecues, has an annual turnover of £40 million (€50 million). Its products are sold under the EWT brand with export markets accounting for half of its sales. Its head office is in Nuremberg and the company also has manufacturing locations in Germany and Hungary. Glen Dimplex is taking over the Hungarian operations, which has a staff of 150, and has plans to further develop the plant and expand its capacity.
Glen Dimplex did not disclose how much it was paying for the company.
The private Irish firm - which was founded by Mr Martin Naughton and Mr Lochlann Quinn - now has an annual turnover of £600 million and substantial electric appliance manufacturing operations in both the Republic and Northern Ireland, Britain, France, Germany and Canada. It employs 2,500 people in Ireland, including 1,000 at its manufacturing operations in Dunleer, Co Louth and in Tralee.
It is also the largest manufacturer of electric heating products in the world, with such products accounting for some 50 per cent of its sales.