Kautex Maschinenbau System GmbH officials say the machine builder has repositioned itself financially and returned to a normal mode of business that includes shipping extrusion blow molding systems and attending major trade shows.
The Bonn, Germany-based company has been restructuring through a process known as self-administration in Germany after declaring insolvency in August 2023. Blame was placed on external factors ranging from COVID-19 and China's subsequent lockdown to supply chain difficulties, inflation and Russia's invasion of Ukraine.
A few months later, the 89-year-old Kautex company came under control of Chinese investor Jwell Machinery Co. Ltd. through a deal that closed Jan. 1. Terms were not disclosed.
The Kautex brand, machines and technologies are well known in the blow molding market and ripe for enrichment, according to Jwell President Haichao He.
"With a well-developed strategy and well-skilled employees, Kautex continues building a brand reputation as a premium machinery solution provider in the blow molding machinery world. We continue to pursue this strategy consistently and enrich it with elements of the Jwell strategy," Haichao said in a March 19 news release.
With the paperwork completed for the transaction, company officials gave an update about Kautex operations. The release says the machine builder continues to adapt processes and structures to focus on the final product of plastics processors.
Three blow molding machines have been shipped to customers and the next three machines will be ready soon.
One machine went to a blow molder in the United States that produces 20-gallon containers and another to the Czech Republic to make toilet cisterns, according to a LinkedIn post from early March.
Kautex's sales business is getting back on track, too, the release says, with its end-to-end supply chain management "working very well" and the Kautex and Jwell teams making joint visits to customers in Europe and Asia.
Kautex is entering a new chapter, according to Thomas Hartkämper, CEO and chief strategy officer, who is leaving the company at his request.
"After we were able to ensure that the established corporate strategy was maintained, I was able to accept a new challenge in my professional career with a clear conscience," Hartkämper said in the release.
"The management team we have built up over the last few years represents the path we have taken to align the Kautex Maschinenbau Group with sustainable growth. The entry of the strategic investor and the associated completion of the transformation is a very good time for me to hand over a reorganized and up-and-coming company to the next level."