KWH Group sells its subsidiary company KWH Plast Oy to Austrian Schur Flexibles Holding GesmbH

KWH Group sells its subsidiary company KWH Plast Oy to Austrian Schur Flexibles Holding GesmbH

KWH Group sells its subsidiary company KWH Plast Oy’s packaging film manufacturing business to Austrian Schur Flexibles Holding GesmbH. KWH Plast Oy is a developer, manufacturer and seller of tailor made plastic films for food packaging, label and medical industries. KWH Plast Oy’s turnover in 2011 was about 16 million euro.

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Seller: 
KWH Group
Industry: 
Industrial products and services
Buyer: 
Austrian Schur Flexibles Holding GesmbH
Industry: 
Industrial products and services

KWH Group sells its subsidiary company KWH Plast Oy’s packaging film manufacturing business to Austrian Schur Flexibles Holding GesmbH. KWH Plast Oy is a developer, manufacturer and seller of tailor made plastic films for food packaging, label and medical industries. KWH Plast Oy’s turnover in 2011 was about 16 million euro.

International Schur Group, which head office is located in Vienna, and founded in 1846, is one of the oldest packaging businesses in the world. The Schur Group consist of 20 companies offering packaging, packaging machines, packaging systems, and knowhow. Schur has a staff of approx. 1200 persons employed and the Group operates in nine Countries both in Europe and the US. The pending acquisition will make Schur one of the leading cast coex film developers and manufactures in Europe.

KWH Group’s President Peter Höglund commented the upcoming transaction: The intensive research and development work of KWH Plast has taken KWH Group to a crossroad where strategic decisions must be made about whether to continue KWH Plast’s business independently or with an external partner. When KWH Plast becomes a part of Schur Flexibles Group the Company will be a part of an entity which is able to secure the continuance of KWH Plast’s long term offensive R&D work. KWH Plast will benefit from Schur Flexibles Group’s economies of scale and at the same time the initial launch of development projects to markets is accelerated.

Jakob Mosser, Schur Flexibles Group’s CEO commented: The acquisition of KWH Plast’s business assets offers to Schur Flexibles Group a possibility to develop individual portfolio products which are in different stages of product life cycles. The development and production of new type of packaging film products depends greatly on KWH Plast’s know-how and technology. Furthermore the production capacity inside Schur Group is secured as one of Europe’s most valued companies will join to Schur Flexibles Group. We are extremely pleased to acquire KWH Plast.

Annika Sundell, KWH Plast’s CEO commented: Becoming a part of Schur Flexibles Group is the right step forward for KWH Plast’s development. KWH Plast will be able to offer competitive and innovative solutions as a part of Schur Flexibles Group. Furthermore, this transaction gives us the possibility to move up in the value chain and through that we will have better opportunities to commercialize our R&D work.