Smart Molding International 1-2024

10 smart_molding international 1/2024 newsfeed Krones signed agreement to acquire injection molding technology company Netstal Krones announced about the imminent acquisition of 100% of Netstal Maschinen AG (Netstal) based in Naefels, Switzerland, from KraussMaffei in the press release dated January 29, 2024. The contracting parties signed the purchase agreement just a week later. The transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed within the first half of 2024. 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. With the acquisition of Netstal, Krones continues to successfully i mp l eme n t i t s M&A s t r a t e g y. About Krones The company is headquartered in Neutraubling, Germany, and employs around 18,500 people worldwide. Consolidated sales in 2023 totalled 4,720 billion euros. Around 90 per cent of Krones’ products are sold abroad. Its roughly 2,600-strong international service team make sure customers get fast and targeted support – no matter when and where it is needed. The Krones Group includes not only Krones AG (listed on the stock exchange), but also more than 100 subsidiaries and production, sales and service companies worldwide. Krones significantly increased revenue and profitability in 2023 and the Executive Board forecasts continuation of profitable growth path in 2024 Krones www.krones.com Picture: Krones