Steel specialist Salzgitter AG has purchased the PET bottle-related machinery business of SIG Holding AG.
Terms were not disclosed.
The deal's plastics-related assets include blow molding machinery maker SIG Corpoplast GmbH & Co. KG of Hamburg, Germany, and SIG's Plasmax barrier technology.
Publicly held Salzgitter already has some plastics machinery assets. Last year, the Salzgitter, Germany-based firm bought injection press maker KlÃ¶ckner-Werke AG of Frankfurt, Germany. But the newly acquired SIG businesses, which also include SIG's Asbofill GmbH filling machinery unit in Neuss, Germany, is a closer fit with KlÃ¶ckner-Werke's packaging machinery operations.
``The takeover of SIG-Beverages represents an initial and highly relevant step in this context,'' Salzgitter said in a news release. ``In future, it will enable KHS, a KlÃ¶ckner-Werke subsidiary, to operate as a singe-source provider, offering complete facilities and systems to the dynamic plastic bottle technology growth market.''
Salzgitter is a leading European steel and technology corporation, with a workforce of 24,000. The acquired SIG businesses employ 480, mostly in Germany.
The deal marks SIG's continued restructuring. Rank Group Investments Ltd. of Auckland, New Zealand, acquired the firm in April last year, and Alcoa Inc.'s packaging and consumer businesses on Dec. 22.
SIG corporate spokeswoman Bettina Horenburg said: ``We are about 90 percent in carton packaging and the beverage division was always a minor part of the business, although always very successful. Now with our new owner Rank, we are focusing even more on paper.''