Recently Kautex Maschinenbau has reached an important milestone: Jwell Machinery has invested in the company, thus ensuring its autonomous continued operation and future development.
Bonn, 10.01.2024 - Kautex Maschinenbau, which specializes in the development and manufacturing of extrusion blow molding systems, has been extended since January 1, 2024, with its acquisition by Jwell Machinery.
Except for the affiliated Guangzhou Shunde factory, all Kautex Maschinenbau property rights and related entities have been sold to Jewell. All of the company's physical assets and business operations of the mechanical engineering company have been transferred to the Chinese investor. From 1 January 2024, a new company - Kautex Machinery - will take over all the responsibilities of the former company. The parties involved had agreed on the decision not to disclose the purchase price and further terms of the restructuring.
“We have a bright future with Jwell as a powerful partner for Kautex. Jwell is a strategic fit for us. As one of the leading extrusion blow molding machine manufacturers in China, they have a strong background in plastic machinery manufacturing and sufficient capital to push the transformation of Kautex. They will help us continue our localization of manufacturing and service to create a world-class market leader in the extrusion blow molding business.” Thomas, CEO of Kauters Group, said. Kautex is an independent operating company of Jwell Machinery.
Jwell has taken over 50% of the employees of Kautex Maschinenbau in Bonn and 100% of the employees of other companies, and intends to keep focus on improving manufacturing solutions at the Bonn plant, which remains the headquarters for manufacturing, research, development, and service.
Establishment of Transfer Company and First personnel management adjustment
For those employees who were not transferred to the new company, Jwell established a new company to qualify them for new external job opportunities. The opportunity was well received, about 95 % of employees grasped it and took advantage of it to progress in their careers.
Kautex will remain an independent operating company under Jwell and will become its top grade brand. At present, the personnel base of the company is still relatively reasonable, and at the same time, the first adjustment within the management has been implemented. The former Chief Financial and Human Resources Officer of Kautex, Ms Keller, left the company and was replaced by Mr Lei as CFO. Maurice Mielke, who was Global Head of Research and Development until the end of December 2023, will be promoted to Chief Technology Officer and Chief Human Resources Officer. Paul Gomez, former chief technology officer of Kautex Group, has decided to leave the company.
He Haichao,Chairman of Jwell, expressed his highest appreciation to all the staff for their dedication over the past month. He said, he realized a dream he had several years ago to invest in Kautex and make it and Jwell become a global leader in market.