Wednesday 17 June 2020, 09:00
Hydratec Industries to exchanges its interest in Stork for the remaining interest in Rollepaal
Hydratec Industries NV has reached agreement with financial services company Wadinko NV about an exchange of shares effective 30 June. Hydratec Industries will exchange its 75% interest in Stork Plastics Machinery BV for 25% of the shares in Rollepaal Holding BV, thereby making it the 100% shareholder in Rollepaal. The intent is for the Brink Group to subsequently acquire a 75% interest in Stork to supplement its current activities. In addition to the exchange of shares, Hydratec Industries will also pay a net amount, which is subject to a non-disclosure agreement.
Rollepaal (Dedemsvaart) designs and produces extrusion systems for the production of plastic pipes. Stork Plastics Machinery (Hengelo) produces plastic injection moulding machines for the plastics industry. Brink Group (Harskamp) develops and produces injection moulds and roboticized take-out systems for injection moulding machines.
Mr Bart Aangenendt, CEO of Hydratec:
“Focus and clear direction are very important during these corona times. This is why I am pleased that in effective consultation with Wadinko we were able to agree on these combined transactions. This makes it possible for us to pursue both activities with a greater focus. Rollepaal perfectly dovetails with Hydratec Industries’ future plans and Stork logically supplements the activities of the Brink Group.”
The Works Councils of Rollepaal Holding BV and Stork Plastics Machinery BV still have to issue their advice concerning the planned transaction.
Hydratec Industries NV Profile
Hydratec is a listed, globally operating specialist in industrial systems and components and has two core activities:
- Food & Industrial Systems: Design and production of systems by:
- Royal Pas Reform Hatchery Technologies in Zeddam (NL)
- Lan Handling Technologies in Tilburg (NL) and Halfweg (NL)
- Stork Plastics Machinery in Hengelo (NL)
- Rollepaal Holding in Dedemsvaart (NL)
- Plastic Components: Design, production and assembly of plastic components by:
- Timmerije in Neede (NL)
- Helvoet Rubber & Plastics Technologies with production facilities in Hellevoetsluis (NL), Tilburg (NL), Lommel (BE), München (DE), Pune (IN), Kaniow (PL) and Wroclaw (PL)
Hydratec Industries is listed on the NYSE Euronext Amsterdam NV stock exchange (ISIN NL0009391242, ticker: HYDRA).