Mergers & Acquisition Oystar Sells Packaging Subsidiary to ATS of Canada
Oystar sells its subsidiary IWK Verpackungstechnik to the Canadian company ATS Automation Tooling Systems. According to company officials this decision follows the company's strategy to focus on dairy and food products...
Stutensee/Germany – "It's our strategic goal at the Oystar Group to continue to grow where we're strongest", explained company CEO Markus Ehl. "Consequently, we're tightly focused on expanding our market position in the Dairy and Food segments. The company we've sold off is IWK Verpackungstechnik, with its registered office in Stutensee, along with its own subsidiary in Thailand and the sales and service site Oystar IWK USA." The company nevertheless maintains a footprint in North America with a sales and service site in Edison, New Jersey.
IWK Verpackungstechnik produces tube filling and sealing machines and cartoners for the pharmaceuticals and cosmetics industry. In terms of clientele and product range, the company is independent from the rest of the group. "With ATS Automation Tooling Systems, we've found a buyer that's extraordinarily well equipped to continue the successful development of IWK", explains Markus Ehl. "Within its portfolio, ATS can maintain the steady growth course IWK has been on and further promote its strategic alignment.