from Krones AG (isin : DE0006335003)
Krones intends to expand its portfolio into injection molding with the imminent acquisition of Netstal
EQS-News: Krones AG / Key word(s): Miscellaneous
Krones intends to expand its portfolio into injection molding with the imminent acquisition of Netstal
29.01.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
Corporate News Release
29 January 2024
Krones intends to expand its portfolio into injection molding with the imminent acquisition of Netstal
Krones is close to sign an agreement regarding the acquisition of 100% of Netstal Maschinen AG (Netstal) from KraussMaffei. Based in Naefels, Switzerland, Netstal is a leading supplier of injection molding machines to the beverage market (PET preforms and caps) as well as to the medical and thin-wall packaging market. The company is a technological leader in its markets and has already been a strategic partner of Krones in the past.
In the 2023 fiscal year, Netstal generated with a workforce of more than 500 employees revenue of more than EUR 200 million. The profitability of the company is currently below the Krones Group level but is expected to close this gap over the coming years. Netstal will be reported as part of the segment Filling and Packaging Technology. Krones finances the purchase with existing liquid funds, but also may take advantage of partial debt financing.
The acquisition of Netstal is benefitting Krones on various dimensions. Netstal’s PET and Cap businesses complement Krones’ product portfolio for the beverage market. With respect to PET closed-loop solutions Krones then covers all technologies required from injection molding to PET container production through to filling/packaging and recycling. The medical and thin-wall packaging segments of Netstal support the Krones strategy to diversify into the medical/pharma market as well as into food and home-personal-care applications. Netstal will retain its business responsibility within Krones, while benefitting from the international set-up and scale of Krones.
The final signing of the transaction is scheduled for beginning of February 2024. With the acquisition of Netstal, Krones continues to succesfully implement its M&A strategy. After signing the transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed within the first half of 2024.
Contact:
Olaf Scholz
Head of Investor Relations, Krones AG
Tel.: +49 9401 70 1169
Email: olaf.scholz@krones.com
29.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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| Language: | English |
| Company: | Krones AG |
| Böhmerwaldstraße 5 | |
| 93073 Neutraubling | |
| Germany | |
| Phone: | +49 (0)9401 701169 |
| Fax: | +49 (0)9401 709 1 1169 |
| E-mail: | investor-relations@krones.com |
| Internet: | www.krones.com |
| ISIN: | DE0006335003 |
| WKN: | 633500 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1824529 |
| End of News | EQS News Service |
1824529 29.01.2024 CET/CEST