There's a meme that's been circulating on social media lately based on the animated TV series Phineas and Ferb with a character noting that if he "had a nickel for every time [insert thing here] happened, he'd have two nickels, which isn't a lot, but it's weird that it happened twice."
I think you could fill in that blank with "a Chinese company purchased a plastics machinery builder" for a very accurate, if niche, meme right now.
Maybe that's just a way to confess that I probably check my social media feeds more than necessary, but also a way to describe two big deals in the last few weeks.
In late December 2023, Plastics News’ Catherine Kavanaugh wrote about the purchase of Niigata Machinery Co. Ltd. by a subsidiary of China’s Haitian International Holdings.
And this week, PN's Jim Johnson writes that Kautex Maschinenbau GmbH, the German maker of extrusion blow molding machinery, has been purchased by Suzhou Jwell Machinery Co. Ltd.
Neither sale is necessarily unusual. Kautex, based in Bonn, Germany, has been restructuring since declaring insolvency in August 2023. Jwell already makes plastics machinery, including for blow molding.
In the Niigata sale, it and Haitian had collaborated previously, and its parent company already had spun off the injection molding operation about a year ago.
But still. It's a bit weird that it happened twice.