An important milestone has been reached in the restructuring of Kautex Maschinenbau GmbH. : JWELL Machinery has invested in the company, thus ensuring its autonomous continued operation and future development. Kautex Maschinenbau GmbH., which focuses on the development and manufacture of extrusion blow molding systems, has been continued since January 1, 2024, as a result of the acquisition of JWELL Machinery.
Except for the Kautex Shunde factory, all Kautex Maschinenbau GmbH. property rights and related entities have been sold to JWELL Machinery. All of the company's physical assets and mechanical engineering company business operations have been transferred to Chinese investors. Effective January 1, 2024, the new company - Kautex Mechanical Systems Limited - will take over all the responsibilities of the former company. The parties agreed not to disclose the purchase price and further terms of the reorganization.
"As a strong new partner of Kautex., we have a bright future. JWELL is a strategic fit for us as they have a strong background in plastic machinery manufacturing and sufficient capital to complete the transformation of Kautex, and they will help us continue to deeply develop local manufacturing and service, with the goal of creating a world-class market leader in the extrusion blow molding business, "said Thomas, Chief Executive Officer of Kautex. Kautex is an independent operating company of JWELL Machinery.
JWELL has received more than 50% of the employees of Kautex Maschinenbau GmbH in Bonn and 100% of the employees of other companies, and intends to continue to focus on improving production solutions at the Bonn plant, which remains the headquarters focused on manufacturing, research and development, and service.
Kautex will remain an independent operating company under JWELL Machinery and will become its premium brand.
Mr. He Haichao, Chairman of JWELL, expressed his highest appreciation to all employees for their dedicated work over the past month to make this transaction a reality. He said that all of these come together to realize his dream several years ago, to invest in Kautex and make Kautex and JWELL the global market leader in extrusion blow molding.
