Kautex Maschinenbau will be taken over by the Chinese investor Jwell Machinery with effect from 1 January. The takeover is intended to secure the future and continued existence of the company, which specialises in the development and manufacture of extrusion blow moulding systems.
The entire Kautex Maschinenbau GmbH and affiliated companies were sold to Jwell, with the exception of the Kautex Shunde company, for which a deal is in sight. All tangible assets and the entire business operations of the mechanical engineering company were transferred to the Chinese investor. On 1 January 2024, the new company - Kautex Maschinenbau System GmbH - will take over all tasks of the old company. The parties have agreed not to disclose the purchase price or other terms of the restructuring.
„With Jwell as a new strong partner alongside Kautex Maschinenbau System GmbH, we have a bright future ahead of us. Jwell is a good strategic fit for us. They have a strong background in the production of plastics machinery. They have the financial capabilities to complete the transformation of Kautex and they are committed to expanding our local manufacturing and service presence even further, with the aim of becoming the global market leader in the extrusion blow moulding business.“
Thomas Hartkämper, CEO of the Kautex Group
Jwell has taken over 50 per cent of the employees of Kautex Maschinenbau GmbH in Bonn, 100 per cent of the employees in the other units and intends to continue to concentrate on the manufacture of production solutions at the Bonn site. The site will remain the headquarters, focussing on production, research and development as well as service. In addition, Kautex Maschinenbau GmbH in Bonn will be Jwell's third overseas production site.
Kautex will remain an independent company within the Jwell Group and will be its premium brand. With the change to a new company and the right sizing of the workforce, the first adjustments have already been made within the management team. Julia Keller, former CFO and CHRO of Kautex, left the company and was replaced by Jun Lei as CFO. Maurice Mielke, Global Director R&D at Kautex until the end of December 2023, has been promoted to CTO and CHRO. Paulo Gomes, former CTO of the Kautex Group, has decided to leave the company on 1 February.
Source: Chewing text
