Bosch Packaging Technology has rebranded itself as Syntegon Technology following the sale of the division by Bosch.
Syntegon Tech
Bosch had announced in 2018 that it planned to sell packaging and a year later found its buyer in CVC Capital Partners (CVC). Now, following the completion of the transaction in January, Syntegon Technology is now its own independent enterprise.
CVC has announced plans to develop the company following sales of €1.3 billion last year.
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.”
The new processing and packaging company employs 6,100 workers over 30 locations worldwide.
Celebrating the official launch of Syntegon Technology at its company headquarters in Waiblingen Germany, executive board Dr. Stefan König said: “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.”
Syntegon Technology has stated it plans to invest in a customer and technology centre at its Waiblingen headquarters and is also aiming to develop intelligent and sustainable technologies.
The company is pursuing two approaches to sustainable packaging, using mono materials rather than convention multilayer films and to use paper packaging as an alternative to plastic.