Injection press maker Battenfeld Kunststoffmaschinen GmbH will be acquired on April 1 by Wittmann Kunststoffgerate ...
March 14, 2008 by Canadian Plastics
For Battenfeld, based in Kottingbrunn, Austria, the deal ends three months of uncertainty. The company, which reported 2007 sales of approximately 85 million euros (US$116 million), filed for insolvency on Jan. 3. A week later, the government, with several banks, extended credit to keep the company open.
“Battenfeld and Wittmann together will be the first company in the world able to offer a fully-integrated product range for injection molding,” the companies said.
Combined, Wittmann and Battenfeld will employ more than 1,500 people worldwide.
The deal, which has been approved by Battenfeld’s creditors, is subject to approval by European anti-trust authorities. It covers the injection molding machinery manufacturing operation in Kottingbrunn, worldwide sales subsidiaries and Battenfeld’s service and spare parts business in Meinerzhagen, Germany, and Kottingbrunn.