Dienst Verpackungstechnik GmbH has been reorganised and sold under protective shield proceedings. The global market leader for packaging machines for frozen pizzas will be taken over by Solvesta with all 73 employees.
At the location in Hofheim am Taunus the newly renamed Dienst Packsystems GmbH aims to develop sustainable packaging solutions for the food industry and other sectors. Founded in 1988, the mechanical engineering company was part of the Hofheim-based Polar Group, which slipped under the protective umbrella in August last year due to liquidity problems caused by supply bottlenecks. After the two other group companies, Polar Mohr and Adolf Mohr, were taken over by a financial investor in February of this year, along with all 300 employees, the business operations were transferred in full.
The creditors' committee unanimously agreed to Solvesta's offer to take over Dienst. The Mohr family, the previous shareholders, also made this solution possible.
"Despite the difficult situation under the protective shield, no orders were cancelled. In addition to our loyal customers, I would like to thank all employees and suppliers for their trust and commitment. The good news at Easter is that Dienst is emerging from the crisis stronger than ever, will remain at the Hofheim site and is developing new sustainable packaging machines."
Michael Wombacher, Managing Director Packsystems service Ltd.
The company, which specialises in high-quality packaging machines, generates an annual turnover of around ten million euros. Around 80 per cent of all frozen pizzas worldwide are packed using packaging machines from Dienst.
The new owner, Solvesta, intends to provide service in all operational and commercial matters and in global sales in particular, to open up new markets.
"In seven months, we were able to stabilise and restructure Dienst in the protective shield proceedings. This means that the last of the three companies of the former Polar Group can also leave the protective shield."
Dr Robert Schiebe, Lawyer and general representative of Dienst Verpackungstechnik
Source: Packsystems service
