NETSTAL
Is KraussMaffei looking to sell its subsidiary? / Spin-off into independent unit
Former and future CEO Renzo Davatz (Photo: KraussMaffei)
The logic behind the approach of German plastics machinery maker KraussMaffei (KM, Munich; www.kraussmaffei.com) seems hard to comprehend: first, its Swiss unit Netstal (Näfels; www.netstal.com) was virtually fully integrated over a period of several years despite resistance from the Alps, and it was forcibly separated from suppliers within the value chain. Now it appears that the brand, its final assembly operations in Näfels, and a few remaining distributors have been showcased for sale.

KraussMaffei High Performance is to become Netstal again in October, now as an “independent part of the group”, the parent company has announced. Former CEO Renzo Davatz has been tapped as the new chief (see Plasteurope.com of 20.06.2016). He has been working at the company since his apprenticeship as an electrical engineer.

KraussMaffei’s interest in selling the Swiss subsidiary has long been suspected. Rumours to this effect have circulated time and again in recent years, with German bottling line manufacturer Krones (Neutraubling; www.krones.com) and Italian PET blow moulding machinery maker Sipa (Vittorio Veneto; www.sipa.it) suggested as possible suitors.
Decision unexpected
Nevertheless, the current move may come as a surprise since this seems to suggest a tug-of-war behind the scenes at KM between the German management and the Chinese majority owners. For a long time, the restructuring was going in the opposite direction. For example, Volker Nilles was just recently appointed to take charge of the entire new machinery business, replacing department heads previously responsible for processing technologies.

The stated reason for spinning off the Swiss subsidiary has raised a few eyebrows: “KraussMaffei expects strong growth in the medical and PET sectors” – the original core areas of Netstal’s machines, which specialise in thin-wall applications. One might at least assume that KraussMaffei is taking this action to be able to arrange for a sale more quickly in the event of a cash-strapped, worst-case scenario.

What then happens to the numerous supplier links within KM, which Netstal needs to stand on its own, remains an open question. After all, the parent company had gradually relocated machining production and subassembly to sister plants within the group in Germany and Slovakia from 2013 onwards “to strengthen competitiveness”.

What is clear, however, is that the Netstal sales units, which were renamed KraussMaffei High Performance two years ago, will again belong to Netstal going forward, including those in Germany. Sales units that were merged with KraussMaffei companies are being split off again – for example in France. KM CEO Michael Ruf said the move “takes into account the wishes of the customers”. Many of the processors who have been loyal to the company over the years should be pleased to have their familiar contacts back.
18.08.2021 Plasteurope.com [248352-0]
Published on 18.08.2021
Netstal: Will KraussMaffei die Tochtergesellschaft verkaufen?German version of this article...

© 2001-2021 Plasteurope.com  |  Imprint  |  Privacy  |  Cookie settings

Plasteurope.com is a business information platform for the European plastics industry. It is part of KI Kunststoff Information and PIE Plastics Information Europe, one of the leading content providers for the European plastics industry. We offer daily updated business news and reports, in-depth market analysis, polymer prices and other services for the international plastics industry, including a suppliers guide, career opportunities, a trade name directory and videos.

News | Polymer Prices | Material Databases | Plastics Exchange | Suppliers Guide | Jobs | Trade Names | Videos | Associations & Institutions | Register | Advertising

PIE – Plastics Information Europe | KI – Kunststoff Information | KunststoffWeb | Plastics Material Exchange | Polyglobe | K-Profi
© 2001-2021 by Plasteurope.com, Bad Homburg
Date of print: 26.10.2021 10:31:28   (Ref: 990464620)
Text and images are subject to copyright and other laws for protection of intellectual property.
Any duplication or distribution in any media as a whole or in parts requires prior written approval by Plasteurope. URL: http://www.plasteurope.com/news/detail.asp