Renolit and RKW complete ownership restructuring 

German film and sheet manufacturers RKW SE in and Renolit SE have completed a restructuring of their ownership, which will see the two companies split between the owner families of JM Holding GmbH & Co. KGaA, formerly the parent company of the two firms.
 
Originally announced in March, the reorganization of the ownership structure was contractually signed off in July, and the redistribution between family owners came into effect on Oct. 1, the companies said in an Oct. 7 statement.
 
Upon completion of the reorganization, the Fischer and Lang/Helms family members acquired all the shares in JM Holding GmbH and therefore in Renolit SE.
 
The Müller and de Alvear family members received 100 percent of the shares in RKW SE.
 
“We are happy that we have set Renolit SE on this important course and completed the generation change for its owners, thereby securing the long-term development of the company within the ownership of the family,” commented Anja Fischer, Christiane Helms and Andreas Lang as the representatives for both shareholder families.
 
Commenting on the new arrangement for RKW, Hansjakob Müller said the owners were convinced that the new structure would offer “the best conditions for RKW to take the next steps in its development.”
 
Further details of the transaction, particularly the adjustment value amount, have not been disclosed.
 
Founded in 1957 in Frankenthal, Germany, the RKW Group is a manufacturer of film solutions. The company claims market leadership in hygiene and agricultural films, films for the beverage industry and packaging for powdery goods.
 
In addition, the company supplies films and nonwovens for medical applications, the chemical and converting industries as well as for the construction sector.
 
In 2018, the Frankenthal-based business generated sales of €878 million (US$964 million) and employed 3,000 at 20 locations. The company has the overall capacity to process 367,000 metric tons of plastic materials per year.
 
Based in Worms, Germany, the Renolit Group specializes in high-quality plastic films, sheets and other plastic products. The company’s turnover last year stood at just over €1 billion (US$1.1 billion). Renolit employs over 4,700 in more than 30 global locations.