Bosch had announced in June 2018 that it intended to sell its packaging division, finding a buyer a year later in CVC Capital Partners (CVC). It then expanded its headquarters in Waiblingen, Germany, augmenting it with new departments required for the switch. CVC plans to develop the company as a whole and expand intra-group synergies.
Commenting on the closing of the sale, Marc Strobel, a partner at CVC Capital Partners said, “CVC is delighted to see the transaction completed on schedule. Syntegon Technology has a strong presence in many market segments, great technological know-how, and innovative power. We want to build on these strengths jointly with management and the entire workforce.”
Celebrating the official launch of Syntegon Technology, Chairman of the Executive Board Dr. Stefan König took the opportunity to send an emphatic message: “We are building on 150 years of experience and the 64,000 machines deployed by our customers, and pursuing new avenues of business. Now, more than ever before, we are working on intelligent and sustainable technologies and embracing the collaboration with our business partners in the true spirit of partnership.”
This newly gained independence enables Syntegon Technology to be even more flexible. And newly added departments at the headquarters such as Purchasing and IT shorten the distances between in-house units and facilitating interaction with customers and suppliers. Whereas the company had been part of a large corporation with diverse divisions, it can now create a business framework that is an even better fit for the industry. This new setup will enable the company to enhance its profile as a leading processing and packaging company.
Syntegon Technology plans to set new priorities for services. One goal is to reduce response times to customer enquiries; another is to further increase the availability of service technicians. Syntegon Technology is also investing in a customer and technology center at its Waiblingen headquarters. The processing and packaging technology company collaborates with global corporations and regional market leaders, and is determined to offer even more attractive services for medium-sized enterprises and startups.
The company is pursuing two approaches to produce sustainable packaging, using mono materials rather than conventional multilayer films, and the other is to use paper packaging as an alternative to plastic.
