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Company News, 2000-12-21, 01:00 AM

Krupp Werner & Pfleiderer joins a new group of companies

The competition authorities have now joined the supervisory boards in giving their approval to the tie-up of Krupp Werner & Pfleiderer and the two Georg Fischer groups Waeschle and Buss. The agreements entered into effect at the closing date of December 20, 2000.

The three groups of companies have been contributed to the holding company COPERION Holding GmbH domiciled in Constance. Georg Fischer AG, Schaffhausen holds a 50.1% majority, while the remaining 49.9% is held by West Private Equity Ltd., London, and Westdeutsche Landesbank Girozentrale, Düsseldorf. With worldwide activities, the COPERION group supplies systems and components for plastics compounding. With over 2,000 employees, the group has sales of almost euro400 m. The operating units comprise 18 companies at 35 locations, with the main production plants situated in Germany, Switzerland, the US and India.

Krupp Werner & Pfleiderer was formerly part of the Plastics Machinery unit of ThyssenKrupp Industries, Essen. This very successful company (sales: euro220 m, employees: 1,100) specializes in plastics compounding machinery. Following the sale of Krupp Kunststofftechnik to Schweizerische Industriegesellschaft Holding AG (SIG) in the first half of 2000, ThyssenKrupp Industries has again succeeded in opening up the best possible future prospects for an activity earmarked for divestiture.

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