Austrian manufacturer of extruders and extrusion lines, battenfeld-cincinnati group, is under new ownership following the announcement of its sale to financial investor, Industrie Holding Nimbus.
The details of the purchase price have not been disclosed.
With the take-over, the battenfeld-cincinnati group says it will receive new financial resources and equity capital will be strengthened in a sustainable manner.
“After our successful organisational restructuring in the middle of last year, we can now focus on further product developments and investments that will strengthen and expand our market leadership with Nimbus’ support,“ commented Gerold Schley, CEO of the battenfeld-cincinnati group.
“We are delighted to have a new investor in Nimbus that will actively support and advance the new developments and growth plans of the battenfeld-cincinnati group.“
Nimbus invests in European-based industrial companies and has offices in Zeist, the Netherlands, and Munich, Germany. The company says its primary objective is to “create sustainable, strong European industry leaders that can hold their ground in the global market place.”
Ed van Dijk of Nimbus commented: “Nimbus invests in companies that have a healthy core. At battenfeld-cincinnati this core is the technical know-how and the quality of the team – whether we are in Europe, Asia or America.”
battenfeld-cincinnati says it will make its first appearance under the new ownership at the upcoming K Show in October (hall 16, stand B19), where it will present some new developments in the area of pipe, profile and thermoforming sheet extrusion.