The final signing of the transaction is scheduled for beginning of February. Krones expects the transaction to be completed within the first half of 2024, it said in a Jan. 29 statement.
“The acquisition of Netstal is benefitting Krones on various dimensions,” the company said in a statement. “Netstal’s PET and Cap businesses complement Krones’ product portfolio for the beverage market. With respect to PET closed-loop solutions Krones then covers all technologies required from injection moulding to PET container production through to filling/packaging and recycling.
The medical and thin-wall packaging segments of Netstal support the Krones strategy to diversify into the medical/pharma market as well as into food and home-personal-care applications. Netstal will retain its business responsibility within Krones, while benefitting from the international set-up and scale of Krones.”
Kronen posted profits of 200 million in the 2023 fiscal year, which it expects to improve on over the coming years.
Source: sustainableplastics.com
