Hydratec Industries & Stork Plastiks deal
Hydratec Industries NV is in far-reaching discussions with financial services company Wadinko (Zwolle) regarding the acquisition of a 75% interest in Stork Plastics Machinery BV (Hengelo) and Rollepaal Holding BV (Dedemsvaart).
Stork Plastics Machinery (Stork IMM) has been a Dutch manufacturer of injection-moulding machines for over 50 years. Stork IMM specialises in machinery for the fast and accurate manufacture of thin-walled products, including for the food industry. Stork IMM employs a total of around 150 people in its facilities in Hengelo (Netherlands) and Meinerzhagen (Germany).
Rollepaal’s most important activity is the development, manufacture, assembly and worldwide sale of equipment for the production of strong, lightweight PVC pipes. Rollepaal also designs and manufactures high-quality injection-moulds for pipe fittings as well as machined components that are also supplied to third parties. Rollepaal Holding has facilities in Dedemsvaart (Netherlands), Ahmedabad (India) and Baltimore (USA) and a total of around 230 employees.
The total annual revenue of both companies amounts to approximately € 75 million.
Bart Aangenendt, CEO of Hydratec:
“This plan dovetails very well with Hydratec Industries’ growth ambitions. Both these machinery manufacturers have many years of experience and are true specialists in their niche markets. This constitutes a major expansion of Hydratec Industries’ Systems activities.”
René Wolfkamp, Managing Director Wadinko:
“Wadinko is delighted that in Hydratec Industries it has found a partner with experience that will contribute towards a structural growth of both organisations.”
The Works Councils concerned have been consulted. The intended transaction will also be presented to an Extraordinary General Meeting of Shareholders for approval.
The goal of financial services company, Wadinko, is to stimulate industrial activity and employment in the Overijssel, Noordoostpolder and Zuidwest Drenthe regions of the Netherlands. Wadinko does this through substantial minority participations in companies, whereby Wadinko contributes risk-bearing capital, expertise, management support and networks. The companies in which Wadinko holds an interest have considerable development possibilities and growth potential and, through the growth of profitable industry, make an important contribution towards the promotion of the regional economic structure.
Profile Hydratec Industries