Swiss processor Sarna Polymer Holding Inc. is getting out of packaging with the management buyout of its Sarnatech Wild GmbH in Lichtenau, Germany.
The German business, with one plant employing 100, injection molds packaging, including high-impact polystyrene cases for watches, pens, pencils, jewelry, coins and medals. It operates 50 presses, with clamping forces of 40-200 tons, and has annual sales of 14 million Swiss francs ($8.2 million), according to Sarna.
General Manager Reinhard Eichenberger is buying the business, which will be called Wild Design.
Sarnen, Switzerland-based Sarna is restructuring its Sarnatech Division.
The unit runs five other plants molding precision components and plastic ball bearings in Switzerland, Germany and the United Kingdom, said Sarna Chief Financial Officer Jorg Riboni.
By the end of March, Sarna expects to decide whether to sell the remaining Sarnatech plants, integrate them into another division or close them, he said.
Sarna decided in October to focus on its profitable core businesses: Sarnafil, a producer of plastic-based waterproofing systems for roofing, and Sarnamotive, which injection molds interior car parts.
Sarnamotive has businesses in Germany and the United States. The division bought Blue Water Plastics Inc. of Marysville, Mich., in 2000.