Continued consolidation of production structure by the Moeller Group –
Signing of contract concerning the sale of the Bad Schwalbach plastic injection factory to Sinit Kunststoffwerke GmbH of Rödental, Germany
- Retention of practically all jobs
- Supply contract agreed on
Bonn, April 10, 2006
The Moeller Group, one of the leading global suppliers of components and systems dedicated to power distribution and automation, is continuing to streamline its production structure as part of its strategy of concentration on core business. In this connection a contract concerning the sale of its Bad Schwalbach plastic injection production operations was signed with Sinit Kunststoffwerke GmbH of Rödental, Germany, on March 30, 2006.
As the contract states, Sinit Kunststoffwerke GmbH will be acquiring all the assets and taking on 94 of the 103 employees at the Bad Schwalbach product facility effective May 1, 2006. In future, Sinit will be producing plastic injected parts as a service-provider to Moeller. Both parties have signed a supply contract in this respect, and have agreed not to disclose details regarding the purchase price. The sale is still contingent on the approval of the responsible authorities and institutions.
"As in the case of the automobile industry, we have been concentrating for some time on production processes directly concerned with our core competencies, and thus on buying other important subcomponents on the open market. In this respect we have found a powerful plastic injected parts supplier in the form of Sinit Kunststoffwerke GmbH. We already work closely with Sinit, and will be obtaining enclosures and plastic parts from it in future. This will save us from making further investments in this field, and enable us to spend the funds thus saved on the continued internationalisation of the Moeller Group", states Theo Kubat, Management Board Chairman of Moeller Holding GmbH.
Frank Wöhner, Managing Director of Sinit Kunststoffwerke GmbH, states, "The takeover is a further important step in our growth strategy and will create synergies for both companies. It will also increase our competitiveness and means an enlargement of our production capacity. Concluding the supply contract with Moeller will ensure utilization of basic capacity at our new plant, where we will also be able to make plastic parts for other customers in future."
About the Moeller Group
The Moeller Group, which is based in Bonn, Germany, is one of the leading globally active suppliers of systems and components concerned with power distribution and automation in industrial, infrastructure and residential building applications. The company focuses solely on core business areas, as evidenced by its five business units, namely Automation, Command & Control Devices, Motor Starters & Drives, Circuit Breakers and Building Automation. Moeller has a consistent focus on its core business.
The Moeller Group has a strong international alignment. Founded in 1899, the company has an efficient sales network in all relevant target markets, being represented in over 80 countries of the world by national sales companies and distribution partners. Thanks to its international production structure, it is able to utilize the advantages of the regional locations involved and capitalise on the opportunities offered by global growth markets.
The Moeller Group currently has around 8,000 employees, and in the 2004/2005 financial year generated consolidated sales of €870 million, with core business accounting for €760 million of this sum.
Information on the Schwalbach plant
Established: 1920
Products: Plastic injected enclosures and parts
Employees: About 100
Moeller Group, Bonn:
About Sinit Kunststoffwerke GmbH
| Sinit Kunststoffwerke GmbH specialises in the thermoplastic injection moulding of plastic
tools and parts. Its annual sales amount to approx. €9 million, and the company has 65 employees.
|
Sinit Kunststoffwerke GmbH, Rödental: |
| Frank Wöhner, Managing Director |
| Telephone: |
+49 (0) 9563 308810 |
| Fax: |
+49 (0) 9563 308888 |
| Email: |
f.w@woehner.de |
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moeller.net
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