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2007-04-20 News Release

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IWKA concludes sale of its Packaging division

IWKA has successfully closed the sale of its packaging division to funds of a private equity firm Odewald and Compagnie headquartered in Germany.

Already just over three weeks after the execution of the respective agreements and following anti-trust clearance IWKA has successfully closed the sale of its packaging division to funds of the investment company Odewald & Compagnie on April 19, 2007.

Find Information and Suppliers of packaging machinery.

Odewald & Compagnie, Berlin, Germany, which was founded in 1997 by Dr. Jens Odewald, invests in established and strongly growing mid-sized companies in German-speaking countries and neighboring economies within the framework of private equity transactions.

IWKA's Packaging Technology Division plans and builds complete packaging lines for forming, filling, sealing and commissioning for customers in the pharmaceutical, cosmetics, food and dairy industries. The range of products and services, from IWKA PACKAGING companies, for all industries includes packaging machinery for primary, secondary and tertiary packaging - from packaging manufacture, filling and sealing to cartoning and palletizing.

The Packaging division comprises more than 20 companies in Europe, North and South America and Asia.

From the sale with a transaction value of approx. 255 million EUR, the IWKA group has gained liquidity of more than 195 million EUR. Gerhard Wiedemann, CEO of IWKA Aktiengesellschaft, commented the finalization of the sale: "Taking into account our liquidity the group is practically free of debt; the equity ratio has been strengthened and now exceeds 20 %. Thus, IWKA shows a solid financial structure."

As already reported, the sale of the packaging division will generate a substantial book profit after taxes so that the IWKA group expects an earnings contribution from discontinued operations of at least 50 million EUR for the business year 2007.

Find information about IWKA Group.

Read a recent press release about - The ECAM-4 engineering toolkit, developed by ELAU for motion control applications in electronic packaging machinery, now is even easier.

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