Swiss polymer companies Rehau Verwaltungszentrale and MB Barter & Trading have agreed a merger of equals, combining their operations in a new, independent company with sales of $2.5 billion.

The deal, which includes Rehau in Muri bei Bern, Switzerland, as well as the global subsidiaries of MB Barter & Trading, is expected to close by the end of this year, subject to antitrust approval and the usual closing conditions.

Rehau said the merger will strengthen its competencies in polymer-based solutions, allowing it to offer more competitive prices as well as more efficient and optimized trading and distribution services. It will also offer significant opportunities for digitalization, recycling solutions and global expansion, the company added.

“Joining forces  allows the new company to respond more quickly to changing market conditions, innovate faster, become more efficient and create higher value for not only the customers, but also for employees and stakeholders alike,” said Stefan Girschik, deputy CEO at Rehau, and future CEO of the new company.

A name for the new company has not been disclosed but will be revealed “at a later point in time,” said Rehau