from Krones AG (isin : DE0006335003)
Krones successfully completes acquisition of injection molding technology company Netstal
EQS-News: Krones AG / Key word(s): Miscellaneous
Krones successfully completes acquisition of injection molding technology company Netstal
28.03.2024 / 11:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
Corporate News Release
28 March 2024
Krones successfully completes acquisition of injection molding technology company Netstal
In the press release dated 7 February 2024, Krones announced the signing of the contract for the acquisition of 100% of the shares in Netstal Maschinen AG (Netstal), based in Näfels, Switzerland. The acquisition remained subject among other things to regulatory approval. Krones has now received that approval with no conditions. The acquisition of the injection molding technology company is thus final. Krones will consolidate Netstal in the Filling and Packaging Technology segment as from 28 March 2024. In the financial year 2023, Netstal generated revenue of more than €200 million with around 560 employees. Netstal’s operating profitability is currently below that of the Krones Group.
Netstal acquisition a significant strategic milestone
As a leading supplier of injection moulding machines for the beverage market (PET preforms and closures), Netstal is a perfect strategic fit for Krones. For one thing, the acquisition will enable the company to provide additional innovative products, technologies and services. In addition, following the acquisition of Netstal, Krones now has all technologies required for circular PET solutions – from injection moulding of preforms to PET bottle production and from filling and packaging to used bottle recycling.
With its injection moulding technology for medical applications and thin-wall packaging, Netstal also supports Krones’ strategy of diversifying into the medical/pharmaceutical market and into the food and body care sectors.
Netstal will continue to manage its business self-responsible, while benefiting from the Krones Group’s international positioning and economies of scale. This and other measures will help to improve Netstal’s profitability and raise it to the level of the Krones Group in the medium term.
Contact:
Olaf Scholz
Head of Investor Relations, Krones AG
Phone: +49 9401 70 1169
Email: olaf.scholz@krones.com
28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| 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: | 1869777 |
| End of News | EQS News Service |
1869777 28.03.2024 CET/CEST