Selling plastic

ThyssenKrupp Industries has signed an agreement relating to the sale of the Krupp Werner & Pfleiderer group, Stuttgart.

The buyer is a new joint venture established by Georg Fischer AG, Schaffhausen, West Private Equity Ltd., a London-based private equity fund, and Westdeutsche Landesbank, Düsseldorf. Georg Fischer has contributed its own groups Waeschle and Buss and will hold 50.1% of the shares. The agreement is subject to the approval of the supervisory boards and the relevant authorities.

The tie-up will create a supplier of plastics compounding systems and components with a sales volume of almost Euro 400 m and just over 2,000 employees. The operating units comprise 18 companies with 35 locations, mostly in Germany, Switzerland, the USA and India. Under the management of Georg Fischer, plans to go public in the medium term are not being ruled out.

Belonging to ThyssenKrupp Industries, Essen, Krupp Werner & Pfleiderer is currently part of the plastics machinery business unit, which is not a core business under the ThyssenKrupp Group’s strategic plan. The company is a specialist in plastics compounding machinery.

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