Krones, a leading manufacturer of filling and packaging solutions, has acquired MHT Holding AG (MHT). MHT, which stands for Mold and Hotrunner Technology, is based in Hochheim, Germany, and is together with its subsidiaries providing injecting molding tools and services to the PET industry. The company was founded in 1996 by eleven partners with many years of industry experience and has since then developed into a reputable supplier in the PET industry with three production and service locations in Germany, Brazil and the USA. The company generates approximately €25 million (US$28.3m) revenues with 125 employees.
The acquisition of MHT closes a gap in the Krones PET value chain and represents an upstream extension of the Krones portfolio into tooling for PET preform manufacturing. Customers increasingly demand such integrated solutions. Together with MHT, Krones can now offer a broader portfolio for PET solutions.
MHT’s headquarter will remain at Hochheim with the current management to continue to run the business. Financial details of the deal were not disclosed.
In April 2018, Krones acquired 70% in IntegratedPlastics Systems AG, in Baar, Switzerland. Integrated Plastics Systems AG is focussing on providing turnkey PET injection molding solutions for the beverage industry. The acquisitions of MHT and Integrated Plastics Systems AG are both enhancing the Krones PET competence and portfolio.
Just two weeks ago, Krones reduced its revenue and earnings forecast for 2018. The company reported that EBT was down by 17.0% to €139.4 million at the end of the first nine months, due to rising costs of goods and labour and to a one-time expense in connection with setting up a production location in Hungary. (inside.beer, 25.10.2018)