NEUTRAUBLING (dpa-AFX) - Krones AG ((KRNTY.PK, KRNNF.PK), a German packaging and bottling machine maker, said on Monday that it intends to sign a deal to buy Netstal Maschinen AG from KraussMaffei.
Based in Switzerland, Netstal is a supplier of injection molding machines to the beverage as well as to the medical and thin-wall packaging markets.
Krones, said: '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.'
Krones aims to finance the purchase with existing funds and partial debt.
The signing of the final acquisition deal is scheduled for the beginning of February with an expectation for the closure within the first half.
For the full year 2023, Netstal had generated revenue of over 200 million euros.
The profitability of the company is currently below the Krones level but is expected to close this gap over the coming years, Krones noted.
Post transaction, Netstal will be reported as part of the Filling and Packaging Technology segment of the acquirer.
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