Krones buying Netstal from KraussMaffei
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Netstal builds injection molding machines that produce caps and PET preforms for the beverage, medical, and thin-wall packaging markets.
German packaging and bottle machine manufacturer Krones AG is acquiring 100 per cent of Swiss injection press supplier Netstal Machinen AG from KraussMaffei for 170 million euros ($183 million).
Naefels, Switzerland-based Netstal is a leading supplier of injection molding machines and has been a strategic partner of Krones in the past.
The final signing of the transaction is scheduled for the beginning of February, Krones officials said in a Jan. 29 news release.
With a workforce of more than 500 employees, Netstal generated revenue of more than 200 million euros (US$216 million) in the 2023 fiscal year. Krones officials said they will finance the purchase with existing liquid funds, but also could take advantage of partial debt financing.
Krones said the acquisition is beneficial in several ways, with Netstal’s PET and cap businesses complementing Krones’ product portfolio for the beverage market. Krones’ technologies provide closed-loop solutions for applications including injection molding, PET container production, filling/packaging and recycling.
Netstal’s medical and thin-wall packaging segments will support Krones’ strategy to diversify into the medical/pharmaceutical market as well as into food and home and personal-care applications, the release said. It will benefit from Krones’ international scale.
KrausMaffei has been the majority owner of Netstal since 1992.
Krones expects the transaction to be completed within the first half of this year.