Business to focus on intelligent and sustainable technologies
Bosch Packaging Technology has announced its rebrand to Syntegon, alongside a range of new operational objectives and priorities.
Known as Bosch Packaging Technology until late 2019, the former Bosch division has presented itself as an independent enterprise at the company headquarters in Waiblingen (Germany).
Syntegon Technology’s business focus is on intelligent and sustainable technologies for the pharmaceutical and food industries. Extending the service range is a priority for the company.
Bosch disclosed its plans to sell the packaging machinery division to a newly incorporated entity managed by CVC Capital Partners, a leading private equity and investment advisory firm, in July 2019. The transaction was completed according to plan, with the company gaining full independence at the turn of the year.
The sale of Bosch Packaging Technology was completed on January 2, 2020, as envisioned. Bosch had announced in June 2018 that it intended to sell its packaging division, finding a buyer a year later in CVC Capital Partners (CVC).
The new owner, CVC, aims to vigorously develop the company as a whole and expand intra-group synergies.
Commenting on the closing of the sale, Marc Strobel, a partner at CVC Capital Partners said, “CVC is delighted to see the transaction completed on schedule. Syntegon Technology has a strong presence in many market segments, great technological know-how, and innovative power. We want to build on these strengths jointly with management and the entire workforce.”
Chairman of the Executive Board, Dr. Stefan König said: “We are building on 150 years of experience, the 64,000 machines deployed by our customers and pursuing new avenues of business. Now, more than ever before, we are working on intelligent and sustainable technologies and embracing the collaboration with our business partners in the true spirit of partnership.”
Syntegon Technology has intensified its efforts to develop intelligent and sustainable technologies. The enterprise is pursuing two approaches to produce sustainable packaging – one is to use mono materials rather than conventional multilayer films, and the other is to use paper packaging as an alternative to plastic.