Blow molding machine maker Kautex bought by China’s Jwell
Canadian Plastics
Plastics ProcessesThe extrusion blow molding machinery maker had declared insolvency at its production headquarters in Bonn, Germany, last year.
German extrusion blow molding equipment company Kautex Maschinenbau GmbH, which declared its production site to be insolvent in August 2023, has been acquired by China’s Suzhou Jwell Machinery Co. Ltd.
Except for the legally separate Kautex Shunde factory in China, all Kautex property rights and related entities have been sold to Jwell, Kautex officials officials said in a Jan. 10 statement.
Effective Jan. 1, 2024, the new company – Kautex Mechanical Systems Ltd. – has taken over all the responsibilities of the former company.
The financial terms of the deal have not been disclosed.
“Jwell took over 50 per cent of employees of Kautex Maschinenbau GmbH in Bonn, 100 per cent of employees in the other entities, and intends to keep on focusing on manufacturing production solutions at the Bonn site, which remains the headquarter with focus on manufacturing, R&D, and service,” Kautex officials said. “Also, Kautex Maschinenbau GmbH in Bonn will be the third oversea production base of Jwell.”
“Jwell is a strategic fit for us,” said Kautex Group CEO Thomas Hartkämper. “They have a strong background in plastics machinery manufacturing. They have the financial capabilities to complete Kautex transformation, and they are committed to even increase our local manufacturing and service footprint with the target of creating the world market leader within the extrusion blow molding business.”
Founded in 1997, Jwell is said to be one of the largest plastic extrusion machinery manufacturers in China, with over 3,000 employees. The company also makes blow molding, compounding, yarn spinning, and other extrusion machinery.
