GEIGER TECHNIK
Sintex acquisition concluded / Change of name / Job cuts in Germany
Sintex Industries (Kalol / India; www.sintex-india.com) has completed its acquisition of 90% of shares in Geiger technik (Garmisch-Partenkirchen / Germany; www.geigertechnik.de) – see Plasteurope.com of 04.08.2008. The deal is backdated to 30 June 2008, and the company is to be renamed Geiger technologies. The Geiger family will retain a stake in the business, reported to be 10%.
Olaf Matthei has been appointed managing director, while former managing partner Albert Geiger will be responsible for integrating the company into the Indian organisation and further growing the business. As part of the transaction, around 170 jobs will be lost at the company’s three German sites in 2008 and 2009.
Olaf Matthei has been appointed managing director, while former managing partner Albert Geiger will be responsible for integrating the company into the Indian organisation and further growing the business. As part of the transaction, around 170 jobs will be lost at the company’s three German sites in 2008 and 2009.
26.08.2008 Plasteurope.com [211613]
Published on 26.08.2008
German version of this article...