Bosch Packaging Technology gains new identity as Syntegon Technology under new owners CVC
The new identity for Bosch Packaging Technology has been confirmed as Syntegon Technology, under the ownership of investment firm CVC Capital Partners, which has formally completed the acquisition of the business.
Syntegon Technology employs 6,100 people at more than 30 locations worldwide, including manufacturing facilities aimed at the confectionery, snacks and bakery market segments (which Confectionery Production recently visited in The Netherlands). In total, it posted 1.3 billion euros in sales in 2019.
The completed sale of Bosch Packaging Technology was confirmed on completed on January 2, 2020, as envisioned. 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). Bosch Packaging Technology then expanded its headquarters in Waiblingen, Germany, augmenting it with new departments required for the switch. Business developments remained stable in the interim, bucking the trend in the sluggish machine engineering sector. Sales in 2019 came to 1.3 billion euros, matching the previous year’s figure.
As CVC explained, it aims 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.”
“Processing and packaging technology for a better life.” This is Syntegon’s mission statement. The company said that it is goal was to improve the lives of consumers and patients with intelligent and sustainable processing and packaging solutions. A new corporate brand was developed over the past few months. The name Syntegon stands for synergy, technology, and focus on the future. The company revealed that its new corporate colour is green, which it has designed to underscore the importance of sustainability and health. The square in the newly designed logo symbolises a package as well as packaging technology’s ability to protect products.
The entire workforce will celebrate the independent company’s launch with management on January 16, 2020. The ceremony at the Waiblingen headquarters, broadcasted live around the world, will be followed by events held at the individual locations. Syntegon Technology will share the news with its business partners today. Chairman of the Executive Board Dr. Stefan König takes this 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.”
As the company noted, the newly gained independent status of the company under its guise of Syntegon Technology, will enable it to be even more flexible. Furthermore, newly added departments at its headquarters including 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 aims to set new priorities for services, adding that one of its main targets 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 centre 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 will also place an emphasis on continuing to develop sustainable technologies. Its employee base has considerable experience in developing and integrating software solutions, and uses connected components as well as components enhanced with artificial intelligence to this end. It puts a premium on ensuring sophisticated technologies are simple to use. The greater goal is to collect and evaluate data to avoid machine downtime, maximise product quality, and optimise overall plant efficiency. In addition, the business confirmed it is pursuing two approaches to produce sustainable packaging – one is to use mono materials rather than conventional multilayer films, and the other is to use paper packaging as an alternative to plastic.