SIG
Acquisition of Krupp Kunststofftechnik / Expansion in plastics packaging
The European plastics machinery market is in motion once again: SIG Schweizerische Industrie-Gesellschaft Holding AG (CH-8212 Neuhausen) has purchased Krupp Kunststofftechnik GmbH (KKT, D-45413 Essen), with its subsidiaries Krupp Corpoplast Maschinenbau GmbH (Meiendorfer Str. 203, D-22145 Hamburg), Krupp Kautex Maschinenbau GmbH (Kautexstr. 54, D-53229 Bonn), Fischer-W. Müller Blasformtechnik GmbH (Brüssler Str. 13, D-53842 Troisdorf) and Krupp Packungstechnik GmbH (D-45413 Essen).
The acquisition is being backdated to 1 October 1999, with a purchase price of DEM 390m (EUR 199m). This price includes the servicing of the group´s financial commitments, according to an announcement from SIG. In the previous financial year (30.9.1999), KKT achieved sales of DEM 480m (EUR 245m) with a payroll of 1700. Plastics engineering is now to form the nucleus of the SIG Group´s new “Plastics Packaging” Division, which will be further expanded. KKT manager Werner Fillmann will head the new SIG Division.
SIG AG employs more than 7000 and achieved sales of CHF 1.96bn in 1999. The SIG Combibloc Division ranks as the world´s No. 2 after Tetra Pak for cardboard composites for fluids packaging. Added to this come SIG Pack (machinery for cardboard composites) and SIG Positec (automation engineering). The other company division to date, SIG Arms (weapons technology), is to be sold.
In the new corporate strategy presented in January 2000, the focus is all on the packaging sector. Now that main rival Tetra Pak has already been expanding in PET bottles for some time, the new SIG commitment is clearly geared towards PET too. SIG is intending to become a key player in the rapidly-growing market for plastic beverage packaging. This leaves room for speculation: an eminently suitable candidate for this strategy is up for sale in the form of Schmalbach-Lubeca.
The acquisition is being backdated to 1 October 1999, with a purchase price of DEM 390m (EUR 199m). This price includes the servicing of the group´s financial commitments, according to an announcement from SIG. In the previous financial year (30.9.1999), KKT achieved sales of DEM 480m (EUR 245m) with a payroll of 1700. Plastics engineering is now to form the nucleus of the SIG Group´s new “Plastics Packaging” Division, which will be further expanded. KKT manager Werner Fillmann will head the new SIG Division.
SIG AG employs more than 7000 and achieved sales of CHF 1.96bn in 1999. The SIG Combibloc Division ranks as the world´s No. 2 after Tetra Pak for cardboard composites for fluids packaging. Added to this come SIG Pack (machinery for cardboard composites) and SIG Positec (automation engineering). The other company division to date, SIG Arms (weapons technology), is to be sold.
In the new corporate strategy presented in January 2000, the focus is all on the packaging sector. Now that main rival Tetra Pak has already been expanding in PET bottles for some time, the new SIG commitment is clearly geared towards PET too. SIG is intending to become a key player in the rapidly-growing market for plastic beverage packaging. This leaves room for speculation: an eminently suitable candidate for this strategy is up for sale in the form of Schmalbach-Lubeca.
15.05.2000 Plasteurope.com [17381]
Published on 15.05.2000