The beginning of the 2024 New Year, the press industry ushered in a heavy news. Jinwei Machinery Co., Ltd. (hereinafter referred to as "Jinwei Machinery"), a professional manufacturer of plastic extrusion equipment and chemical fiber spinning equipment in China, invested in Kautes Machinery Manufacturing Co., Ltd. (hereinafter referred to as "Kautes"), a German extrusion machine manufacturer, and acquired the company's Bonn factory.
Public information shows that, with the exception of the Cortes Shunde entity, all the property rights and related entities of Cortes Machinery Manufacturing Co., Ltd. have been sold to Jinwei Machinery, and all the company's material assets and mechanical engineering company business operations have also been transferred to Chinese investors. As of January 1, 2024, the new company-Kautex Mechanical Systems Ltd-will take over all the responsibilities of the former company.
Kautex is still an independent operating company under Jinwei Machinery and will become its high-end brand. After receiving more than 50% of the employees of Bonn-based Cortes Machinery Manufacturing Co., Ltd. and 100% of the employees of other companies, Jinwei Machinery Co., Ltd. will continue to focus on improving the production solutions of the Bonn factory, which is still the headquarters focusing on manufacturing, R & D and service.
Industry analysts believe that the acquisition is a win-win situation for both parties. From the perspective of improving technology, manufacturing level and export tariff, Jinwei machinery will accelerate "going out" and establish its own stronghold through investment and acquisition, which will effectively promote overseas sales and brand image promotion. At the same time, due to the investment of Jinwei Machinery, Coaster will also have sufficient funds to complete the transformation of Kautes and continue to cultivate localized manufacturing and services.
In recent years, investment and acquisitions in the plastics industry have been very frequent. In addition to Jinwei Machinery, a large number of companies also launched related transactions last year. For example, on December 8, 2023, LyondellBasle (LyondellBasell,LYB) announced that it had acquired a minority stake in Leiferde, Germany-based Source One GmbH, a plastic waste procurement and engineering company that specializes in developing technical solutions for hard-to-recycle post-consumer plastic waste.
August 1, 2023 DuPont announced that it has successfully completed the previously announced acquisition of Spectrum Plastics Group ("Spectrum"), Spectrum is a well-known player in the specialty medical equipment and component market. Spectrum has approximately 2200 employees worldwide and annual revenues of approximately US $0.5 billion. After the acquisition, it will become part of the industrial solutions business under DuPont Electronics and Industry.
LyondellBasell announced the acquisition of a 50% stake in Stiphout Industries B.V., a Dutch plastics recycling company. It is worth noting that Lian de Basser has been investing in plastic recycling companies in recent years. For example, it was previously announced that it had completed the acquisition of the Italian and Polish recycler MEPOL Group; in addition, it also announced the signing of a memorandum of understanding with Junnuo Environmental Protection to establish a joint venture company in Zhaoqing City, Guangdong Province to establish a recycling plastic factory.
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