Business News
Bosch to acquire engineering company Paal
Tuesday 09. September 2008 - Strengthening the systems business · Bosch aims to expand its product portfolio by acquiring packaging and automation specialists based in Remshalden, Germany · Paal: 2007 sales exceeding 26 million euros, some 200 associates Access to new sectors in the non-food segment
Bosch’s Packaging Technology Division plans to acquire Paal Verpackungsmaschinen GmbH & Co. KG, based in Remshalden near Stuttgart. The purchase agreement was signed on September 5, 2008. The parties agreed to keep the purchase price confidential. The transaction is subject to the approval of antitrust authorities.
Paal is a packaging and automation specialist engaged in the development, manufacture, and sale of lines for secondary and multiple unit packaging involving material like paper, solid fiber board, compact and corrugated board. The company, established in 1964, has a comprehensive range of products for worldwide distribution, especially to the food and cosmetics industries as well as manufacturers of technical products. In 2007 the company, with its around 200 associates, generated sales of more than 26 million euros.
In acquiring Paal, Bosch Packaging Technology seeks to strengthen its systems business and round off its product portfolio in secondary and multiple unit packaging. In the future, the division will be even better placed to offer its customers integrated, complete one-stop solutions and to meet the rising demand for a comprehensive range of products and services. “Paal has impressive systems competence which we intend to utilize for growth in this sector. This involves deriving benefits from the knowledge and expertise of Paal associates,” says Friedbert Klefenz, president of the Bosch Packaging Technology division.
“Under the Bosch umbrella, we will gain access to new markets and technologies. This will offer excellent prospects for driving our business forward and achieving optimum growth,” says Claus Paal, executive director of Paal Verpackungsmaschinen. New sales opportunities for Paal products will become available through Bosch’s global distribution network. At the same time, the purchase will enable Bosch to establish business contacts with new sectors of the non-food segment.
Bosch Packaging Technology, based in Waiblingen (Germany), is the leading supplier of complete solutions for packaging and process technology. Bosch Packaging Technology develops, produces, and distributes modules and systems worldwide for the pharmaceutical, confectionery, and cosmetics sectors, as well as for food and non-food industries. In 2007, 4,460 associates generated sales of some 650 million euros.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 271,000 associates generated sales of 46.3 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.”
The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.